Andre Yoskowitz
15 Apr 2013 23:16
Bankrupt Eastman Kodak has announced today that it has agreed to sell document-imaging assets to Brother for $210 million, setting a starting bid if other companies want to compete for them.
Brother, which sells office equipment like multi-function printers, will also assume $67 million in customer prepayment liabilities.
In its effort to emerge from Chapter 11 bankruptcy, the company has been selling assets and slimming down. Kodak sold $525 million worth of digital-imaging patents last year, shut down their consumer inkjet printer unit, and is searching for buyers for its consumer film and photo kiosks.
The eventual goal is to emerge as a profitable company working with commercial printing and packaging.