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New Kodak out to be aggressive market leader

Wednesday, 04 September 2013
By Print 21 Online Article
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Steve Venn puts his competitors on notice that the revitalised imaging giant will be much more proactive in the market following Kodak’s successful emergence from Chapter 11.

A revamped sales structure and growing confidence in the future of the imaging giant sets the scene for an intense battle for future graphic arts business. According to Steve Venn, regional strategic accounts and channel director of Kodak, the new energy in the company will translate into increased market activity as Kodak focuses on delivering new business solutions.

“It’s exciting for everyone here at Kodak. We have reorganised our sales and territory management to offer a new structure to our customers,” said Venn.

“It’s been a hard road over the past few years but our customers have stuck by us and we’re very grateful. Now we’re ready for the next stage. As the company tag line says, What’s Next Starts Now.”

The upbeat assessment came as Kodak intends to continue investing in its Nexpress line, putting a major focus on the digital printing.

“This side will continue to grow. There has been a positive impact in the Australian market with some thirty plus units sold in the country. We will continue to invest in the technology, which is a vital part of our graphic communications business. We have 700 patents in the commercial area and will look at further investing in them,” said Venn. 

Kodak is in talks with Australia’s two largest newspaper corporations News Limited and Fairfax about the Prosper range of stream technology printers that area making their mark in China and Europe

“The Prosper S20 has been beneficial to one of China’s largest media companies, The Shenzhen Press Group, while European media company Axel Springer is using the Prosper S30,” said Venn.

Kodak successfully closed on its agreement for US$695 million in term exit financing, paid off its DIP (Debtor In Possession) lenders and second line noteholders. It completed its rights offerings, receiving approximately US$406 million of new equity investments from participating unsecured creditors.

“We have been revitalised by our transformation and restructured to become a formidable competitor – leaner, with a strong capital structure, a healthy balance sheet. Kodak has the right technology as the printing markets transition to digital. Our broad portfolio of offset, hybrid and digital solutions enables customers to make the transition at their chosen pace using our breakthrough technology solutions,” said Kodak chairman and chief executive officer Antonio Perez.

“We thank our employees for their extraordinary skills and commitment. We thank our suppliers for their dedication. We thank our customers and partners for their loyalty and for inspiring us to create disruptive technologies and breakthrough solutions,” Perez concluded.

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