Mark W Russell 9:26am, 19 July 2013
Deal concluded with the UK Kodak Pension Scheme

Many customers may now be aware of the deal that has been concluded which will enable Eastman Kodak to emerge from Chapter 11 Bankruptcy Protection in the USA, which it entered in January 2012. This deal involves the UK Kodak Pension scheme, which had the single largest claim on Eastman Kodak, worldwide, with a deficit of an, astonishing, £1.9 billion, and 15,000 members (this is approximately double the size of the MG Rover cars scheme, which had to be rescued by the pension protection fund in the UK).

In simple terms, Eastman Kodak has sold two divisions of the business to the UK Pension Scheme for around £400 million - Personalised Imaging and Document Imaging. Both these divisions are profitable and very successful parts of the Kodak business, generating revenues of around £830 million per annum. These revenues will fund the pension scheme, averting the need to fall back on the pension protection fund.

For anyone interested in traditional photography, we do believe this is a very good deal - Personalised Imaging includes all the stills films we love to use, and also paper, such as Endura. As Kodak already make paper in the UK at their Harrow plant, it is believed production will be increased this UK site. Film production will continue in Rochester, New York.

Re-posted from AG Photographic Blog/email

~ Meredith ~ 5 years ago
I hadn't seen this Mark. Very good news indeed. The Harrow plant is just down the road from me. Good to know it will remain there and in operation :)
amjamjazz 5 years ago
It's entirely possible to expose film to a digital negative and get an analogue image, with chemical grain. Digital printing with lasers on photographic paper does pretty much that..
If someone were to offer this service, would that be good news?
Groups Beta