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Kodak announces sale of photo kiosks

August 24, 2012

In a step toward emergence from Chapter 11 reorganization, Eastman Kodak Company announced yesterday plans to sell its 105,000 photo kiosks located in retail stores nationwide.

Also for sale is Kodak's document imaging business, which primarily does document scanners, as well as its speciality imaging business, which does souvenir photos at events and theme parks. 

The asset sale is intended to support Kodak’s cost-reduction initiatives and decrease its legacy liabilities, allowing the company to focus on commercial, packaging and functional printing, the announcement said.

"We are reshaping Kodak. We continue to rebalance our company toward commercial, packaging and functional printing — in which we have the broadest portfolio solutions — and enterprise services," said Antonio M. Perez, chairman and CEO. "These businesses have substantial long-term growth prospects worldwide and are core to the future of Kodak."

Kodak said it would move forward as quickly as possible and has targeted completing these transactions in the first half of 2013.

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