Kodak News; Apr. 15 – 19

History still in the making…

On Monday, Kodak announced that they entered into a purchase agreement with Brother Industries, Ltd. for the proposed sale of Kodak’s Document Imaging business for a cash purchase price of approximately $210 million. Brother would assume the liability of the business, which totaled approximately $67 million. Kodak’s Document Imaging business provides a comprehensive portfolio of scanners, capture software and services to enterprise customers. Officially this is a bid and other companies could bid more but that doesn’t happen very often. The sale is also subject to approval by the Bankruptcy Court which would take place in June.

Kodak Company and UniPixel, Inc. have entered into a manufacturing and supply agreement to produce next-generation touch sensors based on UniPixel’s “UniBoss” multi-touch sensor film. Under the agreement, Kodak and UniPixel will open a new manufacturing facility within Eastman Business Park here in Rochester later this year to produce touch screen sensors for the dynamic and growing touch module market. Antonio M. Perez, Kodak’s chairman and CEO, said: “This agreement with UniPixel is a major advance for Kodak’s functional printing initiative. Functional printing is a key growth area for Commercial Imaging…and Commercial Imaging is Kodak’s future. ”

UniPixel and Kodak have already begun to construct a state-of-the-art manufacturing and testing facility with nearly 100,000 square feet of manufacturing space for the UniBoss roll-to-roll printing and plating lines. In 2013, $24 million will be allocated to improve and equip the facility, which includes the installation of two printing lines and 15 plating lines. This will be located in Bldg. 326 off Weiland Road.

On Tuesday, Kodak announced that they will be paying a wage dividend (bonus) to hourly employees. They will receive a wage dividend of 5.5% of their 2012 wages and  compensation. The wage dividend will be paid on April 25. There wasn’t any wage dividend paid last year and in 2011 it was only 1.2%.