Eastman Kodak

ROCHESTER, NY—Eastman Kodak filed its Plan of Reorganization and Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York on Tuesday.

The potential for digital packaging is great, and while there are many obstacles, these can all be overcome. Commercial printers would also like to get into packaging, but commercial shops have some additional challenges. Commercial printers generally do not have the finishing equipment: folding, scoring, diecutting. Perhaps more significant, brand owners generally look to box makers for boxes, not commercial printers.

Under a new settlement agreement, which will be filed with the U.S. Bankruptcy Court, Kodak’s Personalized Imaging and Document Imaging businesses will be spun off under new ownership to U.K. Kodak Pension Plan (KPP).

Eastman Kodak's Commercial Imaging segments recorded significant improvements in segment earnings. “These results demonstrate that we are on track with our strategy to focus on Commercial Imaging, and that we are making operational improvements as Kodak takes the right steps to emerge as a profitable and sustainable company,” said Antonio M. Perez, chairman and CEO.

This year’s Kodak 2013 Graphic Users’ Association Conference in Atlanta, themed “Delivering Education to Drive Bottom Line Results,” kicked off Tuesday evening with a First-Timers Reception where many of the first-time GUA attendees were able to meet and seek a mentor for the conference. Attendees on the first two days participated in the nearly sold-out GUA University courses.

Eastman Kodak and Brother Industries, have reached an agreement for the proposed sale of certain assets of Kodak's Document Imaging business for a cash purchase price of approximately $210 million, subject to certain price adjustments at closing. Under the terms of the agreement, Kodak will seek U.S. Bankruptcy Court approval of the bidding procedures at a hearing in late April and is targeting final court approval of a transaction in June.

After serving for nearly a decade in executive marketing roles for Eastman Kodak’s Commercial Imaging Group, Ron Gilboa has returned to InfoTrends as director of Functional and Industrial Printing. “I’m delighted to be back at InfoTrends and working with a remarkable team of colleagues,” commented Gilboa. “I look forward to applying my skills and experience in graphics communications, to charting the next twenty five years of innovation, in the Functional and Industrial Printing marketplace.”

Kodak has reached an agreement with the Steering Committee of the Second Lien Noteholders to amend the terms for the previously-announced interim and exit financing package. “We are establishing a clear path for our emergence as a stronger, focused commercial imaging company,” said Antonio M. Perez, chairman and CEO.

Commercial Printing Industry News Briefs from Printing Impressions’ March 2013 edition, including items on Vertis Communications; EPS-Doublet and Think BIG Solutions; Royal Printing and Modern Printing; Classic Graphics; The John Roberts Co.; the U.S. Postal Service (USPS) and Valassis Direct Mail; Impressions Plus Printing and Copying; and Eastman Kodak.

Okay, so the news is certainly encouraging on the photo merchandise front looking out over the next few years. The overall market in the U.S. is estimated to grow from around 113 million units reported in 2012 to nearly 158 million units by 2017, so says David Haueter, Associate Director for InfoTrends' Photo Merchandise Trends…