Eastman Kodak has received and accepted an offer from the Steering Committee of the Second Lien Noteholders Committee for interim and exit financing totaling $830 million in loans. The commitment is superior to, and therefore replaces, the $793 million commitment announced by the company on Nov. 12.
With the purchase of a 40" Heidelberg Speedmaster sheetfed press dedicated to four-color work and two new digital color presses (Kodak NexPress and Xerox iGen4), Edwards Brothers Malloy can now accommodate four-color runs from one copy up to 3,000 books.
Interquest’s Digital Printing in Government and Higher Education Forum, which was hosted by the Government Printing Office in Washington DC, drew nearly 120 attendees—20 percent more than the 2011 forum. “In these challenging and exciting times, our attendees value the opportunity to learn from one another and find answers to the right balance of communication media as well as the role digital printing adds to the mix,” said Gilles Biscos, president of Interquest.
Driven by its commitment to top-notch customer service, technological innovation and print quality, J.S. McCarthy Printers relies on Kodak Unified Workflow Solutions to drive results in all three areas. Using a combination of workflow, proofing and CTP solutions from Kodak, the Maine-based printer has increased efficiency, delivered superior print quality and strengthened client relationships.
ROCHESTER, NY—Eastman Kodak has arranged $793 million in financing from certain creditors to emerge from bankruptcy as a "commercial printing company," Bloomberg reported, citing a person familiar with the negotiations.
Eastman Kodak Co., the bankrupt photography pioneer, arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, said a person familiar with the negotiations. Funding is conditional on selling its patent portfolio for at least $500 million, progress in the sale of two business units and the resolution of the U.K. pension obligations.
A group of second-lien noteholders separately said in a court filing today that they have lost faith in management, claiming the company’s ability to successfully restructure and exit bankruptcy has been jeopardized.
Centerbridge Capital Partners, GSO Capital Partners, UBS AG and JPMorgan Chase
Kodak, Monroe Litho, Book1One, and International Paper have teamed up with the Rochester Institute of Technology to help veterans from New York’s Genesee Valley Chapter of Veterans of the Battle of the Bulge compile their personal accounts into a new limited-edition book, titled “The Battle in Common.”
Davita Vance-Cooks, Deputy Public Printer and Acting Public Printer, will keynote Interquest’s seventh-annual Digital Printing in Government and Higher Education Forum. The seminar, which is free for government and higher education professionals, will take place in Washington, DC, on Wednesday, Nov. 14, 2012, from 9 a.m. to 4 p.m. at the Government Printing Office (GPO), North Capitol St. Northwest.
With offset presses becoming scarce on the show floor and digital vendors pushing for higher volume and larger B2-format machines, digital presses are becoming the "big iron" components of the GRAPH EXPO show. Almost without exception, digital press vendors highlighted their workflow and digital front end (DFE) capabilities.
Kodak’s revenue of $1.018 billion in the third quarter represented a decline of 19 percent from the year-ago quarter. This reduction in part reflects strategic decisions to focus on profitable businesses and accounts. The company’s net loss totaled $312 million for the quarter.
