Sale of Kettering-based Kodak operation won’t happen this year


Eastman Kodak Co. announced the sale of its Kettering-based Prosper commercial inkjet business won’t be completed until next year.

“We have been gratified by the interest in the Prosper business as well as the continuing support and loyalty of our customers,” Philip Cullimore, president of Kodak’s Enterprise Inkjet and Micro 3-D Printing & Packaging Divisions, said in a release. “The Prosper business has been very strong over the first nine months of 2016 with the placement of 12 presses, more than in any comparable period. We also saw a 41 percent increase in annuity revenues in the third quarter, versus the same period a year earlier.”

RELATED: Check out our photo gallery of the Kodak plant

Details of the sale process remain confidential, the release said.

The company continues to evaluate “ways to streamline the Prosper press business to maximize performance and address market opportunities in publishing, high volume direct mail and packaging.”

About 400 people work at Kodak’s office and labs at the Miami Research Park in Kettering and a major part of its business there is the Prosper inkjet program. The site is Kodak’s largest operation outside of its headquarters in Rochester, N.Y.

When Kodak purchased the Kettering inkjet operation, the products developed and manufactured there were called Versamark. After the acquisition, Kodak invested in new technology development in Kettering that is now known as Prosper.

The company introduced the Kodak Prosper 1000 Plus Press in February 2015, calling the product developed in Kettering “the world’s fastest black and white inkjet press.” The Prosper press can print at speeds up to 4,364 pages per minute, allowing book publishers to produce shorter print runs more quickly and profitably, officials said.

Founded in 1880, Kodak was a pioneer in the print and movie film industries. In recent times, the company has struggled as more people use digital products. Since 2012, the company has laid off more than 3,500 employees in the United States.

SIGN UP FOR OUR DAILY BUSINESS EMAIL NEWSLETTER



Reader Comments ...


Next Up in Business

GM to unveil Springfield-built truck in March
GM to unveil Springfield-built truck in March

Chevrolet will unveil a new medium-duty Silverado truck that will be built at Navistar’s Springfield plant at an auto industry show in Indianapolis this spring. The Springfield plant has long been preparing for the joint venture with GM to build medium-duty trucks. Those trucks will be available in both the International and GM brands, and will...
Success in virtual reality allows Kettering tech company to grow
Success in virtual reality allows Kettering tech company to grow

Marxent appears to have found its place in the worlds of virtual and augmented reality, allowing the company to grow its Kettering office. The company creates content management software and platforms in the $100 billion virtual reality and augmented reality markets, wedging those technologies into the homes and home furnishings markets. Unsure about...
Spectrum reports TV streaming app service issues
Spectrum reports TV streaming app service issues

Spectrum customers are reporting service interruptions while attempting to use the Spectrum TV app, the company said on Friday afternoon. “Spectrum customers are experiencing a service interruption while attempting to use the Spectrum TV App. This is causing errors including incorrect login information. Technicians are working diligently to restore...
Chamber welcomes new board members
Chamber welcomes new board members

The Dayton Area Chamber of Commerce is welcoming new board of trustees members while thanking retiring members. The new chamber board members are: MORE: Manufacturing wins help push Ohio jobless rate down Doug Anspach, Leadership Dayton chair and partner in Taft Stettinius & Hollister LLP; Doug Barry, president of BarryStaff Inc.; Randy Domigan, director...
Amazon raises monthly Prime membership rate
Amazon raises monthly Prime membership rate

The monthly membership fee for Amazon Prime rose Friday from $10.99 to $12.99. Company officials said the annual membership will remain at $99 dollars. Monthly customers do not get access to Amazon Video, which costs $8.99 a month. The last Prime subscription hike came in 2014, when Amazon increased its yearly membership from $79 to $99. The e-commerce...
More Stories