Kodak's transformation: Promises kept
Promises made by Executive Chairman and CEO Jim Continenza in 2019
- De-lever the balance sheet and strengthen Kodak's financial position
- Unwavering commitment to print: Invest our core strengths, double down on digital and be the last company standing in plates
- Reorganize as One Kodak and establish a customer-first model
De-lever the balance sheet
Unwavering commitment to print
Reorganize as One Kodak
Kodak Names Jim Continenza Executive Chairman
"I look forward to helping Kodak build long-term value for shareholders as we continue to deleverage our balance sheet, increase operational efficiencies, and maximize the potential of our key growth drivers." Jim Continenza, Executive Chairman
Kodak completes sale of its Flexo Packaging Division
Proceeds at close were approximately $320 million. The net proceeds from the transaction will be used by Kodak to reduce outstanding term debt.
Kodak Announces Issuance of $100 million 5.00% Secured Convertible Notes to Clients of Southeastern Asset Management
"This refinancing is a major milestone for the Company," said James Continenza, Kodak's Executive Chairman. "It improves the Company's balance sheet, provides additional capital and lowers debt service costs, which will support the realignment of our business and our emphasis on meeting our customer needs."
Kodak Reaches Agreement to Form Strategic Relationship with HuaGuang, China
By partnering with one of the largest graphics players in a region that is seeing a growing demand for resource-efficient solutions, Kodak seeks to significantly increase the adoption of its SONORA Process Free Plates in China.
Print businesses reorganized under One Kodak
"We are consolidating the current print divisions (PSD, EISD and KSD) to create one unified Print
organization with centralized sales and service teams. The new organization will help us deliver
comprehensive solutions to our existing and new customers with a One Kodak approach."
Internal email from Executive Chairman Jim Continenza
Kodak and Uteco announce the successful installation of the first UTECO Sapphire EVO Press
This high production digital inkjet press expands the company's packaging print capabilities, with a cost-effective and highly flexible digital solution for high-speed, high-quality applications.
Print Business Analyst Event
Kodak leaders host a private event for 11 select print journalists and analysts from around the world to communicate Kodak's commitment to print and preview a range of soon-to-be-launched Kodak solutions.
Full-year 2019 Earnings
"We consolidated our divisional structure, strengthened our financial position and returned our focus to our core print and advanced materials and chemicals businesses." Executive Chairman and CEO Jim Continenza
Agfa Gevaert Announces Two Factory Closures in France and UK | Reuters
From Agfa press release: Faced with a significant and structural decline in demand in the extremely competitive offset printing market, Agfa has to optimize its printing plate manufacturing capacity by adjusting it to the changing market conditions.
Kodak receives five BLI Outstanding Innovation awards for continuous inkjet technology
Winning products included:
KODAK PROSPER ULTRA 520 Press and KODAK PROSPER Plus Imprinting Systems
KODAK PROSPER QD Packaging Inks and Film Optimizer Agent (FOA)
UTECO Sapphire EVO M and W Presses, powered by KODAK Stream Inkjet Technology
Kodak Reaches Agreement to form Strategic Alliance with Southern Lithoplate Inc. (SLP)
This arrangement will leverage Southern Lithoplate's strong customer relationships and expertise within the newspaper sector and Kodak's world-class products and technology, providing the print industry with leading-edge solutions and support.
Kodak Announces New Capital Sources & Debt Structure to Further Strengthen Financial Position
These transactions together provide the Company with up to $310 million of incremental cash to invest in growth opportunities in Kodak's core businesses of print and advanced materials and chemicals.
Kodak Acquires the Assets of ECRM Incorporated's CTP Business
"This acquisition reflects Kodak's commitment to the printing industry and our focus on investing in growth," said Jim Continenza, Kodak's Executive Chairman and CEO. "Acquiring these assets of an impressive company like ECRM makes us an even stronger player in the CTP category."
"The steps we have taken in the last two years — strengthening our balance sheet, establishing a customer-first approach and continuing to invest in innovation — have created the foundation for growth," said Jim Continenza, Kodak’s Executive Chairman and CEO.
Kodak Acquires Southern Lithoplate Inc. (SLP) Service & Parts Assets
"Our partnership with Southern Lithoplate deepens our expertise in the newspaper segment and strengthens our ability to provide exceptional service for customers," said Jim Continenza, Executive Chairman and CEO.
Fuji announces the closure of four of their U.S. manufacturing plants eliminating around 400 positions
Kodak is doing the opposite: increasing capacity at our sites around the world. Kodak proudly manufactures many different industry-leading products in the United States.
Kodak ramps up manufacturing of its Violet plates in the U.S. to meet the needs of North and South America
The Columbus, GA plant will now manufacture all LIBRA VP2 Digital Plates for North and South America. Previously these plates were imported from Osterode Germany.
"Over the last two years we have concentrated on our strengths as an industrial manufacturer, established a customer-first model, fixed our balance sheet and raised capital," said Executive Chairman and CEO Jim Continenza. "The result is improved performance in all our businesses and a solid foundation."
"I’m pleased with our continued improvement in the third quarter despite challenges posed by supply chain issues, labor shortages and inflationary pressures," said Jim Continenza, Kodak’s Executive Chairman and CEO.