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Eastman Kodak

Eastman Kodak says that it plans to sell  to sell its Flexographic Packaging Division.

That division is involved in a form of printing which uses flexible plates to print on a wide variety of packaging materials.

CEO Jeff Clarke says this is a great opportunity to get value for shareholders since there has been strong interest in the division. He says the Flexographic unit has performed exceptionally well, but he says by selling the unit, it will help allow Kodak to focus on growth areas.

Eastman Business Park

Local Kodak and government officials recently celebrated the completion of a $75 million dollar new boiler house located in Eastman Business Park.

That was part of the conversion of the utility plants at the industrial park earlier this year from coal to natural gas.

Eric Gottung is project manager. He works for RED-Rochester, the company that runs utilities at the business park.

He says the conversion from coal to natural gas brings a number of advantages including the fact that it’s better for the environment.

A report in the Wall Street Journal says that Kodak is exploring a possible sale of its flexible-packaging business.

The WSJ quotes a source as saying that division, which makes labeling and packaging equipment, could potentially  generate $400 million in a sale.

The Journal says the sales process is at an early stage and there is no guarantee there will be a deal.

www.kodak.com

Eastman Kodak has announced a new president for its Consumer and Film Division.

Eric-Yves Mahe will take that role effective immediately. He will also continue in his role as president of the Software and Solutions Division.

Mahe will replace John O’Grady, who was named President of the Print Systems division earlier this year.

This week, news about an upcoming opportunity for area small business, entrepreneurial firms to get federal grants, in an event organized through the SBA.

-Greenlight Networks says it is deploying new fiber technology

-And Kodak working on plans to relaunch Ektachrome film. (here's the link)

Kodak is reporting its first quarter financial results, and they show a loss of $25 million compared to the same time last year. Revenues were flat, at $357 million.

CEO Jeff Clarke says the company did see strong performance in some of its key segments for commercial printing and packaging.

At Brighton Securities, George Conboy says there may not have been a lot to cheer about in this quarter, but hopefully sales have stabilized and will see increases in the future.

Eastman Kodak is announcing a change in the corporate ranks. The company says that John O’Grady has been named President for the Print Systems Division effective April 24.

O’Grady is currently President of the Consumer and Film Division and he is the former General Manager of World Wide Sales for Print Systems.

Eastman Kodak is reporting earnings for the 4th quarter and all of 2017.

The company is reporting profits of $129 million for the quarter and $94 million for the year overall. But as George Conboy of Brighton Securities points out, that profit is mainly due to the fact the company had a one-time tax benefit of $101 million.

provided photo

There was an historic moment at the Eastman Business Park on Tuesday. Kodak officials marked the arrival of the last train car of coal brought to that plant to fuel its power plant, before the plant’s power system is converted to all natural gas.

The president of the park, Dolores Kruchten, says newer regulations required a major change to be made with the coal-fired plant.

Randy Gorbman / WXXI News

While the Academy Awards were celebrated in Hollywood Sunday night, a number of  Rochesterians were also wearing gowns and tuxedos at the Kodak Center on Ridge Road.

The event was not only to celebrate film, but also raise money for a good cause.

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