Kodak’s press release is here.
Here’s CEO Antonio M. Perez, in the release:
“Our stated corporate goal is to be among the top three in each of the businesses in which we compete,” Perez said. “While the Health Group is enjoying strong organic growth in elements of its digital portfolio, such as digital capture solutions and healthcare information solutions, we have been observing for some time consolidation in this industry. Given our valuable assets and the changing market landscape, we feel that now is the time to investigate strategic alternatives.”
Here’s what an industry analyst says about the unit’s prospective sale, from the Wall Street Journal online edition (subscription required):
Ulysses Yannas, a broker with Buckman, Buckman and Reed who has long followed Kodak, said a sale could bring more than $4 billion, and predicted that private equity firms would be eager to buy the profitable unit.
Stay tuned.
It’s awful to watch this once great engine derail. It had such promise, and a commanding position in the world with which to execute against that. New visions, new frontiers, new futures. But it never got it. All it got was:
“What can we do for you Mr./Ms. Customer…as long as it’s manufactured by Kodak Park.”
Now our wonderful community suffers and wonders what the future holds.
Someday someone’s going to get at the root of how the engine that could slowly went off the track. Maybe one of the writers reading your blog. You know I’ll contribute if asked!
Well look at the bright side, at least Kodak is not General Motors