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Kodak

WATCH: Michelle & Matt talk Xerox and Kodak

Nov 10, 2014

Michelle Faust, filling in for Beth Adams, chats with D&C Business Reporter Matt Daneman about news on Xerox and Kodak.

Kodak's Emergence Plan Approved

Aug 20, 2013
www.kodak.com

The U.S. Bankruptcy Court has approved Kodak’s plan to exit bankruptcy, clearing the way for the company to emerge as a much smaller commercial printing business.

The emergence plan represents the last great hurdle for Kodak in its bid to exit bankruptcy.

Judge Allan Gropper approved the plan Tuesday and the company is hoping to put it into effect as early as September 3rd.

In a statement released by Kodak, the company quotes the court as saying:

Eastman Kodak Company

Kodak has submitted a revised proposal of their plan to deal with legacy environmental issues at Eastman Business Park. The new plan would see New York state and its taxpayers contribute at least an extra $50 million in backup funding.

The original plan saw Kodak providing a $49 million fund for future costs stemming from environmental contamination in the Business Park and parts of the Genesee River.

Beyond that, the company could not be held liable for future environmental problems according to the settlement plan.

EPA Files Formal Objection to Kodak Environmental Plan

Jul 17, 2013
Eastman Business Park

The U.S. Environmental Protection Agency (EPA) has filed a formal objection to Kodak’s proposed environmental liability plan for the Eastman Business Park (EBP).

Under the plan proposed in the U.S Bankruptcy Court last month, Kodak would no longer be liable for environmental damage and contamination at the site caused by past operations.

Instead, liability would be assumed by a $49 million trust endowed by the company.

Kodak and Kingsbury to Enter Touch Screen Market

Jun 27, 2013
Eastman Kodak Company

A new partnership between Kodak and local company Kingsbury could see up to 50 jobs created in Rochester in the next year.

The two companies are teaming up to produce touch screen sensors using Kodak’s silver halide technology and a manufacturing process designed by Kingsbury.

CEO of Kingsbury Bill Pollock says getting into the growing touch sensor market is a good move for his company.

NEW YORK (Reuters) - The framework of a plan by Eastman Kodak Co (EKDKQ.PK) to restructure as a commercial imaging business was approved by a bankruptcy judge on Tuesday, bringing the former photography company one step closer to exiting from Chapter 11 protection.

Judge Allan Gropper in U.S. Bankruptcy Court in Manhattan said he was "happy" to green-light the so-called disclosure statement, which creditors will use as a reference when they vote on the plan in the coming weeks. Kodak could be out of bankruptcy by September 3rd.

Eastmanbusinesspark.com

New York State and Kodak have announced an agreement they believe will enhance economic development at Eastman Business Park.

The agreement includes having Kodak set aside $49 million in a trust fund with the state, to help deal with any environmental issues that might crop up.

(Reuters & WXXI) - Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection.

Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of the equity of a reorganized company.

Kodak to Exit Bankruptcy as Early as July

May 1, 2013

Kodak expects to emerge from bankruptcy as early as July according to the company’s reorganization plan filed late Tuesday.

The 78-page document filed with the US Bankruptcy Court, states the company expects to issue new stock to some of its creditors for almost $3 billion of unsecured debt. But under this plan, current shareholders would see their stock become worthless. 

Analyst George Conboy, President of Brighton Securities says that’s pretty standard for a company in Kodak’s position.

New Kodak Partnership to Create Jobs

Apr 16, 2013
UniPlex.com

Kodak has struck up a deal that will see up to 70 jobs created in Rochester. The company has entered a deal to manufacture and supply touch sensors for Texas-based company UniPixel.

The agreement will see Kodak and UniPixel open a new manufacturing facility in Eastman Business Park later this year, with $24 million set aside to improve and equip the 100,000 square foot facility.

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