Rep Confirms Business as Usual For Kodak’s Film Division After Spinoff

Posted by on Wednesday May 1, 2013 | Business

Kodak’s transfer of its Personalized Imaging and Document Imaging businesses—including its photographic film division—to the UK Kodak Pension Plan (KPP) will not affect the production or distribution of photographic film, according to Audrey Jonckheer, Global Communications Director for Kodak’s Personalized Imaging business.

Jonckheer says the Personalized Imaging and Document Imaging businesses are gearing up for what they hope will be a smooth transition. “This whole plan was put together so there would not be any changes in product, services or delivery to our customer base…. All of the manufacturing sites will continue to operate as normal.”

On Monday Eastman Kodak Company announced that it would turn its Personalized Imaging and Document Imaging businesses over to KPP in order to settle $2.8 billion in claims KPP made against Kodak in bankruptcy proceedings. Kodak agreed to transfer the businesses to KPP for cash and non-cash consideration of $650 million. If the U.S. Bankruptcy Court and the UK Pensions Regulator approve the settlement, it will help pave the way for Kodak to emerge from Chapter 11.

The proposed deal has encouraged optimism, Jonckheer says. Today the KPP chairman, Steven Ross, was in Rochester, where Kodak is based, speaking with Kodak employees and local reporters. According to Jonckheer, “He exuded confidence in the growth prospects for the businesses,” and said that with the proper investment, which Kodak hasn’t been able to make due to their Chapter 11 status, the businesses could grow.

“That’s the part that’s exciting to us, because we are profitable,” Jonckheer says. “The future is looking bright.”

In the immediate aftermath of the announcement the majority of social media chatter was about the future of Kodak film, says Jonckheer. “From a social media perspective, from the immediate media coverage that we saw, it was primarily film. Film was in the headlines,” she told PDN. “No matter what this company does, the reaction is always, ‘How is this going to affect film?’”

“We have been asked that, and we have said what we’ve been saying all along, which is that the lifecycle of film depends on the demand for it, and as long as there is profitable demand there will be film.”

Related: Kodak Turns Over Film Division to Its UK Pension Plan


COMMENTS

MORE POSTS

What a Fire Taught Erik Almås About Success and the Creative Life

Posted by on Friday November 17, 2017 | Business

Erik Almås nearly lost his life’s work and his house in the fires that swept through northern California in October. On November 12, he wrote in a blog post that the experience changed his perspective on what’s important personally and professionally. And he offered inspiring advice to struggling photographers about how to keep things in... More

Who I’ve Hired: Leonor Mamanna, Bloomberg Pursuits

Posted by on Thursday November 16, 2017 | Business

PDN recently interviewed Bloomberg Pursuits senior photo editor Leonor Mamanna about the type of photography she’s looking for and how she finds photographers. In this video, she talks about the work of two photographers she’s hired recently—Jess Bonham and Lindsay Lauckner Gundlock—and why they were the right photographers for the jobs she assigned. Mamanna also... More

Thursday Tip: On Creative Calls, Be Confident, Not Cocky

Posted by on Thursday November 16, 2017 | Business

The creative call is the initial conference call with an ad agency’s creative director. It is the photographer’s best chance to hear what the client wants, and to gather the information needed to write an estimate for the assignment. It is also the time for a photographer to start offering ideas for how to shoot... More