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Friday, September 28, 2012
Kodak To Stop Producing Consumer Printers

Eastman Kodak said it would focus that business on the sale of ink to its installed base, and wind down sales of consumer inkjet printers by 2013.

Kodak will highlight its restructuring accomplishments to date in a motion it plans to submit today to the Bankruptcy Court to extend until February 28, 2013, its exclusive right to file a plan of reorganization. The extension will assist the company as it continues its progress toward successful emergence in the first half of 2013.

In its motion, Kodak describes the progress it has made toward reorganization goals since filing for Chapter 11 on January 19, 2012. Kodak's case is large and complex, involving some $5 billion in assets, global operations, thousands of contracts and leases, thousands of potential creditors, and ongoing asset sales. Kodak's progress includes the stabilization of its business, the development of its emergence plan, operating improvements, the expansion of customer and vendor relationships, and substantial cost reductions.

Kodak previously announced its intention to emerge as a company focused on commercial, packaging & functional printing solutions and enterprise services, as well as processes to sell its Personalized Imaging and Document Imaging businesses. Consistent with that emergence strategy, Kodak has continued to manage its Consumer Inkjet business for profitability, and the company announced today that, starting in 2013, it will focus that business on the sale of ink to its installed base, and wind down sales of consumer inkjet printers. Kodak expects that this decision will significantly improve cash flow in the U.S. beginning in the first half of 2013.

Kodak plans to provide its customers and retail partners the same level of service and support they have come to expect from Kodak.

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