Paul Simon said it: Slip slidin’ away / Slip slidin’ away / You know the nearer your destination / The more you’re slip slidin’ away.
Kodak is getting nearer its destination – reorganization following Chapter 11 proceedings – but in the process it’s becoming a shell of its former self. Those parts are just slip sidin’ away . . .
The company has announced it will emerge from reorganization “as a company primarily focused on commercial, packaging and functional printing solutions and enterprise services.”
To get to that point, Kodak is looking to sell its Personalized Imaging and Document Imaging businesses.
Reports suggest a consortium of companies is looking at buying Eastman Kodak’s digital imaging patents, although the company has said if it can’t get what it considers to be good value for those patents, it will hold on to them.
“We are reshaping Kodak,” says Antonio Perez, chairman and CEO. No kidding! It’s already not the Kodak we remember from its heydays in the ‘60s and ‘70s.
Kodak notes that in addition to the commercial, packaging and functional printing and enterprise services businesses, it also continues to own and operate the Consumer Inkjet, Entertainment Imaging, Commercial Film and Specialty Chemicals businesses.
So, for the time being at least, you needn’t worry about being able to get ink cartridges for your Kodak printer.
The Personalized Imaging business Kodak is selling consists of Retail Systems Solutions (RSS), Paper & Output Systems (P&OS) and Event Imaging Solutions (EIS).
RSS, it says, is the worldwide leader in retail print solutions with 105,000 Kodak picture kiosks worldwide.
P&OS includes traditional photographic paper and still camera film products.
EIS provides souvenir photo products at theme parks and other venues.
The Document Imaging business provides scanners, capture software and services to enterprise customers.
Kodak hopes to complete the sale of these assets in the first half of 2013.