Kodak looks confident for future

Chapter 11 is a great tool for restructuring a business says Kodak CEO Anonio Perez, a tool he is making full use of.

KODAK HAS STARTED THE NEXT PHASE of its transformation, beginning to plan its emergence from the Chapter 11 process in entered at the end of last year. And Drupa is a key stage. CEO Antonio Perez told a press conference: “Drupa is fundamental for the industry. A good result will allow this industry to emerge in a world economy that remains weak. The show is very important for the industry and for Kodak.”

At the event the company is cementing its position as leading provider of inkjet head modules, having units on Presstek and Ryobi presses as well as large sales to print companies like Anton in the UK. This is in addition to the Timsons T-Press which uses the heads in the widest digital press yet.

UPDATES ON THE PROSPER DIGITAL web press family include the sale of a fourth Prosper 5000XL colour machine to Toppan Forms in Japan and the addition of a coating unit to add a primer to paper for the Prosper. A new version is the Prosper 6000XL, running at 1,000ft/minute and rated at 160 million pages a month. Neon pink and gold become colour options for the Nexpress while Sonora is a new process free plate.

However the focus continues to be on Kodak’s financial position and its progress in selling off unwanted parts of the business during a restructure. Perez remains positive. “Chapter 11 is an excellent tool for restructuring. We can keep the same board and strategy. It’s about asking for help to right size and solve legacy issues.”

THE GRAPHIC ARTS BUSINESSES, ESPECIALLY in digital printing and in packaging, are central to the new Kodak. The future of the unneeded patent portfolio is close to being sorted while a court looking at infringement issues is likely to rule in Kodak’s favour, providing a significant boost to the company’s finances.

The initial shock led to a month of confusion, during which the company’s directors kept in close contact with customers. Normal trading has resumed, Perez adds.