Kodak to sell businesses as part of recovery planAugust 24, 2012 - 11:14 AMT PanARMENIAN.Net - As part of its ongoing recovery efforts after filing for Chapter 11 bankruptcy, Kodak has announced its plans to sell its film, commercial scanner, and photo kiosk businesses, according to The Verge. The proposed sale will fall alongside the company's current digital imaging patent auction, which it hopes will yield a return profitability and guide the iconic brand out of bankruptcy. As part of its larger reorganization plans, Kodak is moving away from the consumer market and will instead focus on commercial packaging and printing products. Despite seemingly abandoning most of its photography divisions, Kodak says it isn't abandoning its legacy and promises to find a buyer with similar interests: “As we move forward with the potential transition of these businesses to new ownership, we will ensure that our customers continue to enjoy the same great products, services and support that they have come to expect from Kodak. We will also ensure that the potential buyers share our commitment to serving customers. Kodak has successfully sold businesses in the past with a seamless transition for customers.” While no further insights about the status of the sale were provided, Kodak hopes to emerge from bankruptcy sometime next year. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. Prosecutors to appeal Armenia ex-President’s acquittal Sargsyan was acquitted on Friday, May 31 more than four years after going on trial on corruption charges. |