Kodak picture kiosk for sale
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The sales announced Thursday should lead to a Kodak that fits together better and could give investors more confidence, Luskin said. "We continue to sell and support printers and ink, including through partnerships." "Our consumer inkjet printers have built a strong market niche," Veronda said. Kodak spokesman Christopher Veronda, when asked if Kodak has plans to sell the consumer inkjet line, said that it is "one of the other businesses that we continue to own and operate."
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Ken Luskin, president of California wealth management firm Intrinsic Value Asset Management, said the company seems to be indicating that it will also sell those businesses. Kodak made a point of saying that businesses, such as consumer inkjet printing, motion picture and television film, and specialty chemicals, are outside of the core. In the conference call, Perez repeatedly circled back to the idea that these sales were part of Kodak's goal to focus in the future on a set of core businesses - commercial printing, packaging printing and various printing services. He declined to say how much Kodak is counting on from the sale. Perez said Kodak, through its investment banker and financial adviser Lazard, is marketing the businesses now and hoping to have them sold off in the first half of 2013. Indeed, the Rochester economy is increasingly peppered with Kodak spinoffs, from medical imaging company Carestream Health to CCD image sensor firm Truesense Imaging. The sale of these businesses doesn't automatically mean the end of such manufacturing work being done locally. Since the filing, it has sold the Cinesite special effects business and Kodak Gallery.Īlso up for sale are Kodak's document imaging business, which is primarily document scanners its silver halide paper business and its specialty imaging business, which primarily does souvenir photos at events and theme parks. In the months leading up to the Chapter 11 bankruptcy filing in January, Kodak sold its CMOS and CCD sensor businesses and its microfilm business. The latest sales add to the growing list of operations the Rochester icon has unloaded in the past year. And the sale follows Kodak's announcement in February that it was shuttering its digital camera business. Kodak's fortunes for much of its history revolved around camera film, with the company in 1885 rolling out Eastman American Film, the first transparent film negative. "These are not easy decisions," Perez said, adding that selling the businesses was motivated in part by the need to satisfy creditors of the bankrupt company. Kodak estimated at the time that the personalized imaging business would generate $1.1 billion in revenue this year. When Kodak gave creditors a rough sketch of its post-bankruptcy business plan, it included the personalized imaging unit, of which the still film and kiosk businesses are parts. Perez's decision to sell the still film and photo kiosk businesses marks a 180-degree turn from just a few weeks ago. "We believe they have good long-term prospects." Perez said in a phone briefing with reporters.
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"These are attractive, market-leading businesses with great teams of employees and products," CEO Antonio M.