Kodak sells camera film business
The company that popularized camera film photography is leaving the business. Kodak is selling its professional and consumer camera film businesses to a UK pension plan that represents Kodak workers and retirees.
“In the deal, Kodak picks up $650 million and wipes out a $2.8 billion claim by the underfunded pension plan, which represents about 1,000 Kodak workers and close to 14,000 pensioners and other beneficiaries. … The pension fund did not reply this week to questions seeking comment about what kind of plans it has for growing those businesses.”
— Matthew Daneman, USA Today, Jun 20, 2013
So where is Kodak now?
- Manufactures materials for camera film, but the film itself will be made and sold by a company owned by a UK pension group
- Sells film for TV and movie through its entertainment imaging business
- Licenses the Kodak brand for cameras made and sold by JK Imaging Co.
Related
Sources: USA Today.
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