ROCHESTER, N.Y. (AP) Kodak really wants to sell its document imaging and personalized imaging companies to higher concentrate on printing and business services because it attempts to leave Chapter 11 personal bankruptcy protection.
Eastman Kodak Co. stated Thursday the purchase from the models, together with cost-cutting measures and also the auction of their patent portfolio, can help it leave personal bankruptcy between 2013.
Kodak's document-imaging division makes scanning devices while offering related software and services. The personalized imaging business includes photo paper but still-camera film items. Additionally, it offers souvenir photo items at amusement parks along with other venues.
Antonio Perez, Kodak's chairman and Boss, stated the planned purchase is "an essential part of our company's reorganization to concentrate our business around the commercial marketplaces."
The storied photography pioneer declared Chapter 11 personal bankruptcy protection in The month of january. It's stored operating although it attempts to sell its digital imaging patents. To date, it's not found purchasers.
Rochester, N.Y.-based Kodak began in 1880. Kodak introduced the legendary Brownie camera in 1900. Selling for $1 and taking advantage of film that cost just 15 cents a roll, it made hobby photography affordable for most people. Its Kodachrome film, introduced in 1935, grew to become the very first in a commercial sense effective amateur color film.
Kodak's labor force peaked in 1988 at nearly 150,000 employees. But the organization could not take care of the change from digital photo technology in the last decade with competition from Japanese companies for example Canon.
It stated captured it would stop making digital camera models, pocket camcorders and digital mirrors because it attempts to reshape its business.
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