Eastman Kodak – Divestment of flexo pack division planned
USA • Accordingto the company’s own information, it has begun a process to sell its flexo packaging division (FPD) for more than USD 400 million. Currently there is no information available about the buyer of the division.
The company will continue to focus on the demonstrated growth areas of Sonora offset plates, enterprise inkjet, workflow software and brand licensing as each of these businesses has delivered growth, profitability and strong margins.
During the sale process, Kodak will continue to make significant investments in FPD by expanding manufacturing capacity, developing advanced technology and increasing its headcount to meet customer needs.
Kodak’s Flexographic Packaging Division produces and markets the Flexcel NX system of flexo imaging equipment, printing plates, consumables and related services. For the last twelve months, FPD reported revenues of USD 150 million and operational EBITDA of USD 33 million. During this period, FPD has demonstrated strong growth, achieving a 9% increase in revenue and 18% Operational EBITDA growth. FPD currently employs a staff of approximately 300 people.