All posts tagged: Kodak

Kodak discontinues BW400CN film

Kodak Alaris has said that it holds “a steady decline in sales and customer usage” responsible for its decision to discontinue Professional BW400CN film. The company, which formed in September 2013 following Kodak’s reorganisation, said in a statement: “We empathise with the Pro photographers and consumers who use and love this film, but given the significant minimum order quantity necessary to coat more product combined with the very small customer demand, it is a decision we have to make.” The fine-grain chromogenic emulsion “should continue to be available in the market for up to six months, depending on demand,” the statement added. In light of the news, Ilford was quick to assure photographers that it has “no plans to discontinue Ilford XP2 Super,” a fine-grain, black and white professional ISO 400 film. In a statement released yesterday, Ilford said the product “continues to be in free supply throughout the world from Ilford Photo Distributors and Photographic Retailers.” Stay up to date with stories such as this, delivered to your inbox every Friday.

2014-08-21T12:36:32+00:00

Kodak gets court approval to emerge from bankruptcy protection

The era of Kodak as a leading film manufacturer are now officially over after a US Bankruptcy Court approved the company’s plans to restructure its business to become a commercial imaging market player. Already in April, Kodak had virtually exited the film business when it sold its personalised imaging and document imaging divisions to its own UK Kodak Pension Plan. Now, Kodak plans to concentrate its business on commercial printing, packaging, functional printing and professional services – markets, Kodak believes, that are “large and growing,” according to Antonio Perez, the corporation’s chairman and CEO. With the court’s approval, Kodak is now expected to emerge from bankruptcy protection on 03 September. “It will be enormously valuable for the company to get out of Chapter 11 [protection], and begin to regain its position in the pantheon of American business,” the court says in a statement. During its restructuration, Kodak reduced its legacy costs, liabilities and infrastructure, “exiting or spinning off businesses and assets that were no longer core to its future, and focusing on the company’s most profitable …

2013-12-11T11:27:17+00:00

Kodak sells two businesses to its own UK pension plan, in $650m deal

“It is an unusual deal, maybe the first of its kind,” says Laura Quatela, president of the Eastman Kodak Company and its personalised imaging business. The deal, which should allow Kodak to emerge from bankruptcy protection, will see the firm sell its personalised imaging and document imaging businesses to its own UK Kodak Pension Plan (KPP). The KPP is a “defined benefit pension plan” for current and former Kodak employees (6230 deferred members and 8610 pensioners), with assets of around £1bn and a deficit of around £1.9bn. As part of the agreement, the current pension scheme will close and members will be offered the chance to join a new scheme. KPP will take ownership of both Kodak’s legacy businesses for $650m, while dropping more than $2.8bn of claims it has filed against Kodak. KPP will use both businesses to finance the pensions of the 14,840 plans it manages. “The Kodak Pension Plan in the UK is Eastman Kodak’s largest creditor in its bankruptcy,” Quatela tells BJP. “In one way or another, that liability needed to be addressed. I think this agreement …

2013-12-11T12:00:33+00:00

BJP Staff