Posts Tagged ‘kodak’

Kodak may exit bankruptcy and continue as a commercial printing company

Kodak film is dead Kodak may exit bankruptcy and continue as a commercial printing company

Bloomberg reports that Eastman Kodak have arranged $793 million in financing in order to exit from bankruptcy and continue as a commercial printing company. One of the condition for the funding is the sell of Kodak’s patents for $500 million.


Here is the press release:

Kodak Agrees to $793 Million in Interim and Exit Financing
Agreement with Centerbridge, GSO, UBS and JPMorgan Sets Kodak’s Path to Emergence from Chapter 11 in the First Half of 2013

ROCHESTER, N.Y., November 12 – Eastman Kodak Company announced today that it has entered into a commitment letter to secure $793 million in Junior Debtor-in-Possession Financing with Centerbridge Partners, L.P., GSO Capital Partners LP, UBS and JPMorgan Chase & Co. to provide the company with additional case financing and establishes the ability to convert a substantial part of the facility into exit financing, enhancing its liquidity and securing a major component of the company’s exit capital structure. This financing is a key element in the steps to enable the company to successfully execute its remaining reorganization objectives and emerge from Chapter 11 in the first half of 2013.


Kodak reports loss of $312 million

It seems like Kodak is having a hard time figuring out how to getting its finances back in the black. Kodak has announced its 3rd quarter financial results, and the numbers aren’t pretty — they’re downright ugly, actually. Despite raking in $1 billion over the three-month period ending in September (down 19% from the same period last year), the company still posted a net loss of $312 million (up from a loss of $222M during the same period last year).

The Bleeding Continues: Kodak Reports Loss of $312 Million bleeding

The company is currently trying hard to shed weight in its attempt to climb out of bankruptcy, selling off many of its longtime businesses (e.g. camerasfilmonline printing) in order to emerge at the end as a commercial printing company.

To put the 3-month loss of $312M in perspective: when Kodak sold its Gallery business and its 75M users to Shutterfly earlier this year, the price was only $23.8 million. The company burned through the money it made through that deal in less than a week.


A film photography mobile app from Kodak

Kodak’s bankruptcy filing earlier this year was certainly a shame, but it was no surprise.

The former photographic powerhouse famously ignored the digital revolution, and was subsequently forced to ditch its own efforts to gain traction in the digital camera market.

Now, however, Kodak is back with a bang…sort of, with the launch of a new mobile app aimed at those with a penchant for good old-fashioned film-based photography.

The Eastman Kodak Company (Kodak, to you and me) has rolled out its Kodak Professional Film app for iOS devices, bringing together the answers to some of its most commonly-asked questions about Kodak film. What are these? Well, ‘Where can I buy it?’ is one of them, while ‘How should I shoot it?’ and ‘Who can develop it?’ also get a look-in.

“We wanted to give photographers of all levels a resource, literally right at their fingertips, that helps them find film and recommendations about how to maximize each film’s performance,” explains Dennis Olbrich, General Manager, Film, Paper & Output Systems and Vice President, Consumer Business, at Kodak. “In addition, this app also provides information where customers can find film development services, so that no matter where photographers are, they can find a lab that uses Kodak chemicals and paper to bring their photography to life.”

It asks you key questions such as what type of film you’re looking for, while offering advice on what kind of film to use, if you don’t know.

a16 Forget digital: Kodaks latest mobile app is for all you traditional photographers out there    b10 Forget digital: Kodaks latest mobile app is for all you traditional photographers out there

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Kodak discontinues T-Max P3200 black & white film

Kodak has quietly announced the discontinuation of its Professional T-Max P3200 black-and-white film, citing low demand.

“Due to low sales volumes, Kodak is ending production of Kodak Professional T-Max P3200 Film,” reads a statement published on Kodak’s website. “The demand for ultra high-speed black-and-white film has declined significantly, and it is no longer practical to coat such a small volume of product.”




The T-Max P3200 is the latest Kodak film to bite the dust following the discontinuation of the Kodak Professional Ektachrome E100G, Kodak Professional Ektachrome E100VS Film and Kodak Professional Elite Chrome Extra Color 100 films, as well as Kodachrome in 2010.

With the discontinuation of the T-Max P3200, Kodak now suggests photographers turn to its T-Max 400 film, dubbed TMY-2. “The latitude of TMY-2 allows it to handle one stop of underexposure (EI 800) without being pushed,” claims Kodak. “In low light situations, TMY-2 delivers very good results when exposed at EI 1600 with increased development time.”

It adds: “Even though P3200 is approximately two stops faster than TMY-2 at comparable contrast levels, that extra speed comes with a significant grain penalty. In fact, for most applications TMY-2 is actually the better film choice. The exception would be extremely low light situations where P3200 might be able to pull out some shadow detail that would otherwise be lost with TMY-2.”

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