Eastman Kodak said it would focus that business on the sale of ink
to its installed base, and wind down sales of consumer inkjet
printers by 2013.
Kodak will highlight its restructuring accomplishments to date in a
motion it plans to submit today to the Bankruptcy Court to extend
until February 28, 2013, its exclusive right to file a plan of
reorganization. The extension will assist the company as it
continues its progress toward successful emergence in the first half
In its motion, Kodak describes the progress it has made toward
reorganization goals since filing for Chapter 11 on January 19,
2012. Kodak's case is large and complex, involving some $5 billion
in assets, global operations, thousands of contracts and leases,
thousands of potential creditors, and ongoing asset sales. Kodak's
progress includes the stabilization of its business, the development
of its emergence plan, operating improvements, the expansion of
customer and vendor relationships, and substantial cost reductions.
Kodak previously announced its intention to emerge as a company
focused on commercial, packaging & functional printing solutions and
enterprise services, as well as processes to sell its Personalized
Imaging and Document Imaging businesses. Consistent with that
emergence strategy, Kodak has continued to manage its Consumer
Inkjet business for profitability, and the company announced today
that, starting in 2013, it will focus that business on the sale of
ink to its installed base, and wind down sales of consumer inkjet
printers. Kodak expects that this decision will significantly
improve cash flow in the U.S. beginning in the first half of 2013.
Kodak plans to provide its customers and retail partners the same
level of service and support they have come to expect from Kodak.