News today from Kodak

[London CDK]

All,

I wanted to share the news from Kodak today as it relates to the Film and Paper & Output Systems business. Today we announced that Kodak has entered into a comprehensive settlement with the Kodak Pension Plan (KPP), the pension plan for its U.K. employees, to spin-off Kodak's Personalized Imaging and Document Imaging businesses. Those in this business couldn't be more pleased with the new owner, who recognizes the value and is focused on its growth and success. In the new company (to be named at closing), it will use the Kodak brand and hope to have your continued support of our brand, products and services today and for many years to come.
http://bit.ly/15U2u82

Best,

Colleen Krenzer
PR for Kodak's Film, Paper & Output Systems Group

 

[Roger Hicks]

Dear Colleen,

Thanks. This looks like very good news.

Frances sends her best.

Cheers,

Roger

 

[thegman]

Will be very interested to find out who the new owner turns out to be.

 

[Joosep]

Good news !

 

[London CDK]

The business has been spun off to the Kodak Pension Plan in the UK.

 

[London CDK]

Thanks, Roger! My best to both of you as well.

 

[anjoca76]

Good news indeed!

 

[mwooten]

I think this is great news -- if KPP keeps it as a going concern, and not sell it off.

 

[paulfish4570]

this appears to be very encouraging. thanks for the news ...

 

[MartinP]

So far as film goes, can anyone decipher if this sell-off/takeover is the distribution chain (as originally suggested last year) and if so that materials will be purchased from the sole manufacturer ie. Kodak in Rochester? The larger question is what happens to the production facilities when cine-film contracts end over the next year or so. It seems unlikely that Kodak can coat film of any sort economically without the cine materials being made.

 

[S.H.]

In the new company (to be named at closing), it will use the Kodak brand and hope to have your continued support of our brand, products and services today and for many years to come.

Thanks for the (good!) news.

 

[Damaso]

Thanks Colleen, I hope all is well in London!

 

[mbisc]

Given Perez's track record of "running" and changing companies, this can only be good news. Hopefully the new owners will actually care about Kodak's products and its customers...

 

[MartinP]

I suppose the pension-fund can commission a boutique "Tri-X replacement" film from Ilford when Rochester closes down, but I don't see how they can hope to supply Portra in a few years time, after Ilford (or A.N.Other) have finished confectioning the last master rolls from Rochester. The colour-neg materials are the only Kodak stuff I use anymore 🙁

Mbisc, remember that Perez isn't making the company policy, he is just carrying out the strategy of the board - and apparently they are happy with him.

 

[Vics]

I'll hope to continue buying and shooting Tri-X for the duration. Good news for me!

 

[Skiff]

Further, a bit more detailed news:

http://www.usatoday.com/story/money...ptcy-selling-businesses-pension-plan/2120695/

 

[bwcolor]

I'll hope to continue buying and shooting Tri-X for the duration. Good news for me!

Not sure that this agreement has much to do with U.S. distribution.:

 

[Chris101]

So ... I'm confused. Does this announcement mean that Kodak's UK Pension Plan now owns and intends to run the manufacture of film, paper and chemistry? Or does this just pertain to English (and European?) distribution of materials still manufactured by Kodak in the US and elsewhere?

 

[MartinP]

The original plan seemed to be that Kodak would sell everything to do with the film side of things except the manufacture of it. That plan may have been bundled with the document imaging business for this sale, in which case all distribution etc. globally will be owned by the pension-fund, as well as the document stuff.

There are only a few more years of cine-film contracts left so I'm wondering what happens then with the colour-negative film coating. The Rochester plant will be the sole supplier to the pension-fund management team of film and when Rochester goes away, they will not find anyone to replace it - or not with the same quality and skill anyway.

 

[Eric T]

Given all that Kodak has sold today and in the recent past, what is left in company's portfolio?