Printing Industry News for Canada | RSS | 
15 November 2017
Kodak losses and job cuts
ROCHESTER—
Kodak has lost $46 million this quarter and will lay off 425 employees. The company chalked up $46 million in losses (compared to a $12 million profit in the same quarter last year), to a slowdown in the printing market and rising cost of aluminum used in plates.In the Print Systems Division revenue fell by 7%, Inkjet Division by 29% and Flexographic Packaging posted flat revenue.
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Sonora plates sales increase by 24%
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Kodak will cut 100 jobs from its Rochester, NY location and about 325 elsewhere. It's also reducing costs and investments elsewhere in an effort to turn a profit by next quarter. It has increases plate prices by 4% to 9%. On a positive note Sonora plate volume has increase 24% to 19% of their total plate sales. Jeff Clarke CEO said " we are in advanced negotiations with parties for joint partnership". He also said" we are actively pursuing divestiture and moneitisation opportunities, which will meaningfull changes to the Kodak portfolio".
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