Kodak to move ahead with phamaceutical manufacturing whether or not it gets government help
Eastman Kodak CEO Jim Continenza says the company will continue to move forward in making drug ingredients for generic pharmaceuticals, even if it doesn't get help from the federal government. Continenza made the comments at a tech conference sponsored by the Wall Street Journal Monday.
Questions about Kodak's plan came up after the federal government put a hold on a $765 million loan to Kodak earlier this year after questions were raised about how the company handled the timing of the loan announcement and other issues.
Continenza was also asked at the conference about the upcoming presidential election and how that might affect Kodak’s situation.
“This is not a Democrat-Republican conversation, this is pretty much been bi-partisan - on how do we bring jobs to Rochester, how do we help Kodak, how do we help this country and over the years, I’ll tell you, it doesn’t matter the party, we’ve gotten pretty good support across the board,” Continenza said at the WSJ conference.
There is no update yet on the status of Kodak's federal loan. The company’s own investigation found Kodak didn’t break any laws but that the company was dealing with some corporate governance issues. Other investigations, including those by the Securities and Exchange Commission and some congressional committees, continue.