Kodak slump may signal tough times for printing companies
November 13, 2011 by James
Less than a week after Kodak announced a 17 percent drop in third quarter sales over 2010, the company has finalized the sale of Image Sensor Solutions (ISS) to Platinum Equity. The company says the move will improved its financials and give it renewed focus. Kodak will still be able to use the technology in the products it has retained. The sale is part of a move to make Kodak into a strong and profitable digital company, an issue that print companies in St Charles, Missouri and elsewhere will be only too familiar with.
The sale of ISS includes the research and manufacturing facility in the company’s Rochester, New York site. ISS is the business behind the best performing image sensors in the world which are used in a wide range of applications. These include everything from photography for catalog, printing and flyer printing to devices for monitoring traffic to use in imaging satellites and systems that sequence DNA.
According to Pradeep Jotwani who is the Eastman Kodak Company’s Senior Vice President as well as the President of the Consumer Digital Imaging Group:
“Image Sensor Solutions is a business that is well-positioned in the high-performance imaging markets in which it participates. is sale maximizes shareholder value by obtaining a full and fair valuation for this business, and allows Kodak to increase its financial flexibility.”
With this transaction complete, Kodak believes that, after a cash-intensive year in 2011, the performance of the digital print company part of its business will show a significant improvement in 2012.