PetaPixel

Kodak Officially Emerges from Chapter 11 Bankruptcy

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It’s been a long and depressing tunnel, but Kodak has finally reached the light at the end. Over a year and a half after declaring Chapter 11 Bankruptcy, the once-great camera giant officially reached the end of its financial troubles yesterday.

The new Kodak is a company focused entirely on business imaging solutions, which CEO Antonio Perez explained to the AP means “packaging, graphic communications and functional printing,” all three based on Kodak’s commercial printing technology.

“We have emerged as a technology company serving imaging for business markets — including packaging, functional printing, graphic communications and professional services,” said Perez in a press release. “We have been revitalized by our transformation and restructured to become a formidable competitor — leaner, with a strong capital structure, a healthy balance sheet, and the industry’s best technology.”

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Part of becoming the “formidable competitor” was being willing to let go of doing everything itself. Kodak president for graphics, entertainment and commercial films, Brad Kruchten, explains that there was once a time when Kodak raised its own cows for gelatin production (to be used in film). Not only that, Kodak also grew its own corn to feed the cows.

From now on, the plan is to “look at what we know how to do and invest in that” — and that means commercial printing applications, as well as cheaper touch screen technology and smart packaging.

Kodak is promising more details about “what’s next” in the near future, but if you want more information, you can check out the company’s revamped website or read our previous coverage here.

(via Engadget)


 
 
  • http://www.flickr.com/photos/monteraz/ Monteraz

    What happened to the film division? I havent heard about that again.

  • Don Tusk

    Film is dead.

  • Jose Rivera

    Film is NOT dead. A new spin-off company, Kodak Alaris, emerged as the company to take Kodak photographic film into the future.

  • http://www.flickr.com/photos/monteraz/ Monteraz

    I am sure your photography is dead, both in film and digital, but some of us would like to know

  • http://www.flickr.com/photos/monteraz/ Monteraz

    Thats great, thanks

  • ramanauskas

    OK, you made me laugh.

  • ramanauskas

    This should be the last story about Kodak here, since the company has f—all to do with photography now that the looters are done with it.

  • Antonio Polo

    I usually never post a word, but…my opinion is that film is more alive than ever…and may be I´m wrong, but as I talk with professional colleagues and aficionados…..film is attracting more people day by day. May be it´s only a matter of business dimension and time…but my forecast is that film will back “soon”…may be Kodak is again “disconnected” of “real world” and they don´t “hear” that film is “growing”. When I talk with students and aficionados they are more interested in film than in digital. And in my country (Europe), if you go to a professional shop you will see more young people asking about film cameras than digital… Other issue is that for family and “tourist” photos, digital is the queen/king of photography…. But if you feel you need something more than that….film is the queen/king…

    This is my opinion based in my experience….I accept that may be I´m wrong but…I feel film is not dead…is coming back..slowly, …though I know it will never be as 30 years ago. But there are a place and a business for film photography….

    Do you let me tell that only with film photography you can reach certain results?.
    As professional photographer I shoot 70% film. And yes, I also shoot digital. Digital is fine, but for some purposes…

    Why not to enjoy both film and digital?

  • Jose Rivera

    This is why Kodak film is still going to be manufactured….by Kodak Alaris, a company that is full of people who still believe that film photography is a viable medium. I believe in film too.

  • Antonio Polo

    Many thanks for your comment. Can you believe that when I´m working almost all students or aficionados ask me about my film gear but not about my digital cameras?. Just this morning I was discussing with other pro about some film and development issues (I develop film myself) and this topic was so interesting for students round there that they didn´t stop asking. Film is a fantastic world, more “personal” than digital, also more difficult. Film is “yours”…digital is…of the camera software and “Photoshop” and similars…. And that´s great, but please, a respect for film photography.
    And again I tell that I also shoot digital, and it is great but different.

  • Leonardo Abreu

    Finally! I’m happy now. :)

  • kakaroth

    film is dead! Sony Nex FF!

  • Fernando

    BRAVO!

  • http://www.shawnhoke.com/ Shawn Hoke

    Photography is better with Kodak producing and selling film. And it’s nice to see an uptick in film use, especially in young users. Also Ilford just opened a film processing center in the US. That’s a great thing too.

    I get paid to shoot digital, but sell prints shot with film. Best of both worlds. I would definitely miss Kodak Tri-X!