Hot on the wire last week was the news that Kodak intends to sell its Flexographic Packaging Division.
According the Kodak, the division is profitable and still growing. The company intends to continue investing in it until it is sold.
“This is a great opportunity to unlock value for shareholders given the strong interest we have received in the Flexographic Packaging Division. FPD has performed exceptionally well over the past five years and has become a significant player in the industry. This business is an excellent example of Kodak incubating and bringing disruptive innovation to the marketplace. Kodak has been evaluating monetization opportunities for the last several years in order to deleverage the company and we believe this is right time to monetize this valuable asset,” said Kodak CEO Jeff Clarke.
“Following this transaction, Kodak’s improved capital structure will allow us to increase our focus on demonstrated growth engines, while continuing to invest in and provide solutions across the commercial printing, film, and advanced materials industries,” said Clarke.