Dallas, Texas 09/06/2013 (Financialstrend) – Eastman Kodak Company (OTCMKTS:EKDKQ) a picture and printing company operates in segments like Consumer Digital Imaging Group (CDG), Graphic Communications Group (GCG), and Film, Photofinishing and Entertainment Group (FPEG). These segments include various services and solutions like Retail System Solutions, Consumer Inkjet Systems and Consumer Imaging Services Digital Printing Solutions, Entertainment Imaging, Traditional Photofinishing, Industrial Materials and Film Capture Business Services and solutions.
After completing its re-emergence from bankruptcy the company will concentrate on its business solutions. The U.K. Kodak Pension Plan (KPP) completed its purchase of the Kodak Personalized Imaging and Document Imaging businesses, which includes 105,000 photo kiosks around the world from EKDKQ and formed a new company, with the name as Kodak Alaris.
When the transaction competed worldwide, the new company Kodak Alaris will have more than 4700 employees in around 30 countries and is expecting revenue of more than $1.3 billion. It will retain the heritage and legacy of the Kodak brand and the new company will focus on strategic, ongoing investments for these businesses to ensure long-term growth and success, as it has a perpetual license to use the Kodak brand.
Previously on September 3, 2013 the company earned gets approval from U.S. Bankruptcy Judge Allan Gropper in New York for a plan to come forth from bankruptcy in about two weeks as a much smaller digital company.
The company has either shut or sold many of its businesses including its consumer camera business, online photo service, personal and document imaging alongside many of its patents to emerge out of bankruptcy. The company which once had 145,000 employees during 1980s peak now has just about 8,500 employees. Along the bankruptcy, however, its legacy also seems to be a good old memory given the expected revenue to be around $2.7 billion for the year against $13.3 billion in 2003. As bankruptcy is now a thing of past for EKDKQ, Antonio M. Pérez, chairman and chief executive of the company noted that they are now set for profitable growth.