Acquisition Completed and Founding of Kodak Alaris
Most of you will surely have noticed Kodak's problems and feared for your beloved films. Now there is news from Kodak. The business divisions Personalized Imaging and Document Imaging, which include the film division, have been acquired by the UK Kodak Pension Plan (KPP). The new company Kodak Alaris has been founded for this purpose.
The films will continue to be manufactured by Kodak in the USA, but Kodak Alaris will take over distribution and the rest. So there is no need to worry about the quality of Portra, T-Max, and the other films.
Here is the official press release:
UK Kodak Pension Plan Completes Acquisition of Eastman Kodak Company's Personalized Imaging and Document Imaging Businesses
KPP Establishes Kodak Alaris to Ensure Long-Term Growth of Valuable Business Divisions
LONDON, September 3 -- The UK Kodak Pension Plan (KPP) has completed the acquisition of the Personalized Imaging and Document Imaging businesses from Eastman Kodak Company and established a new company, Kodak Alaris.
The new company's name not only preserves the heritage and legacy of the Kodak brand, but also stands for shorter product launch times and flexibility in meeting market demands and changes.
Kodak Alaris, with a perpetual license to use the Kodak brand, focuses on strategic, ongoing investments in these business divisions to ensure long-term growth and continued success.
"Our joy in acquiring these businesses is not only due to their market strength, but also to the long-term, highly promising growth opportunities," said Steven Ross, independent Chairman of KPP.
"Today begins a new chapter for a traditional brand. We are excited about the potential that the new company offers to our pension plan participants, our customers, and our employees."
Dennis Olbrich, President of the Personalized Imaging business division of Kodak Alaris, and Dolores Kruchten, President of the Document Imaging business division of Kodak Alaris, lead Kodak Alaris.
"Innovation has always been critical to our success and will continue to be a cornerstone of our business," said Dolores Kruchten.
"Under new ownership, we will increase our commitment to pioneering the development of new products and solutions.
We will continue to provide the industry-leading services and support that our customers know and trust.
And we will be a flexible, innovative company with even shorter time-to-market."
"Our new owner shares the same high level of commitment to our Kodak Alaris Personalized Imaging and Document Imaging customers, which is why the future of Kodak Alaris is so exciting," commented Olbrich.
"Even as we celebrate this important step on our journey, our priority must remain to meet and exceed the requirements of our customers and consumers.
We achieve this by continuing our solid customer service tradition, which is made possible by our dedicated and talented employees."
Upon global completion of the transaction, the company Kodak Alaris comprises over 4,700 employees in approximately 30 countries and an expected revenue of more than $1.3 billion.
About KPP:
KPP Trustees Ltd. (KPP), trustee of the Kodak Pension Plan of the United Kingdom (pension plan), is the owner of Kodak Alaris.
The Personalized Imaging and Document Imaging businesses of Eastman Kodak Company will be transferred to this company.
The pension plan has approximately 15,000 members and assets of over £1 billion. Eastman Kodak Company has granted KPP a license to use the KODAK brand in Personalized Imaging and Document Imaging products and in the name Kodak Alaris.
About the Personalized Imaging Business of Kodak Alaris
This business combines a unique tradition of expertise and ongoing innovation to bring high-quality imaging products and services to market, online in retail and on mobile devices.
The Kodak Alaris Personalized Imaging business includes Retail Systems Solutions, a world-leading provider of photo kiosks for retail and dry lab systems that give retailers a competitive advantage in the photo services market.
Paper & Output Systems offer photo specialty stores, professional and wholesale photo labs, and photographers a comprehensive portfolio of traditional photographic paper and workflow solutions.
Through Film Capture, consumers and professionals receive award-winning film products for still cameras.
Last but not least, Event Imaging Solutions delivers digital photo-based services and solutions for creating souvenirs in theme parks, resorts, popular tourist destinations, and other markets worldwide.
For more information, visit www.kodak.com/go/PI and our blog 1000Words.
Follow us on Twitter at @kodakCB, on Facebook, and on Instagram at @kodakcb.
About the Document Imaging Business of Kodak Alaris
The Document Imaging business of Kodak Alaris enables customers to effectively collect data using high-quality systems and solutions, route it to the appropriate person in an organization, understand its significance, and extract value from the content. Our offerings include award-winning scanners and capture software, information management platforms, and a growing range of professional services and industry-leading service and support. Whether small offices or global enterprises, Document Imaging from Kodak Alaris stands for intelligent delivery of solutions that meet business needs. This includes automating business processes, enhancing customer experience management, and enabling better business decisions.
For more information, visit kodak.com/go/dinews.
Follow us on Twitter at @kodakdi and visit our blog at Info Over Drive.
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