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
Other
Febuary 2019
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
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April 2019
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.
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May 2019
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."
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August 2019
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.
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December 2019
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
January 2020
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.
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March 2020
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.
March 2020
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
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June 2020
Kodak Launches Six Products Across Digital and Offset Portfolio
Kodak today announced the revolutionary new PROSPER ULTRA 520 Inkjet Press and an enhanced portfolio of offset and digital solutions designed to deliver an unmatched return on investment.
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June 2020
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.
September 2020
Kodak Scoops Two Prestigious 2020 InterTech Technology Awards
Kodak wins for the UTECO Sapphire EVO M digital web press powered by KODAK Stream Inkjet Technology and for KODAK PROSPER QD Packaging Inks and Film Optimizer Agent (FOA).
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October 2020
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
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December 2020
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.
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March 2021
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.
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April 2021
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."
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May 2021
Q1 Earnings
"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.
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June 2021
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.
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July 2021
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.
July 2021
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.
August 2021
Q2 Earnings
"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."
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November 2021
Q3 Earnings
"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.
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Promises kept: A solid foundation for growth
- Ended the first quarter 2021 with $401 million of cash and cash equivalents, including the financing transactions announced on March 1, 2021.
- Recognized strong Q1 2021 growth in our Print businesses, including SONORA Process Free Plates and PROSPER annuities.
- Our simplified organization structure is better aligned with our customers' needs, including automation of front end, customer facing applications and realignment and consolidation of our service organization.