Kodak sells off photochemicals division

[tim atherton]

Maybe I missed this? Kodak photochemicals will now be a Canadian company:

Kodak sells off photochemicals division

"Kodak has announced that it is selling its photochemicals business to Champion Chemtech Ltd., an Ontario, Canada-based company. All 150 employees working in the division will be transferred to the new company.

While Kodak is shifting its focus away from traditional film-based photography and concentrating more on digital, Champion is focused on chemical manufacturing. However, Kodak is expected to continue to supply chemicals to customers in the US and Canada.

In addition, according to reports coming out of Rochester, Kodak will close part of a synthetic chemicals manufacturing facility. The company uses synthetic chemicals as part of its film and paper manufacturing."

[Gordon Moat]

Just a little late on that one. They did a similar thing with their European chemicals division last year. As I understand the financial aspects of that, it reduces their liability risks, thus saving them more money to buy back their own chemicals and products instead of continuing to run the manufacturing facilities. This stuff is buried deep within numerous pages of SEC reports, in case you ever find yourself so massively bored you might want to read them.

Ciao!

Gordon Moat
A G Studio