No, you haven’t just stepped into a time machine: Kodak Alaris is up for sale again. Pension Protection Fund (PPF) has owned the business since 2020.But according to the most recent reports, it’s talking to bankers about selling the business.
[Related reading: Kodak’s paper and chemistry business sold to Chinese company, a report]
The story of Kodak Alaris is long, complicated, and frankly, even a bit confusing. The company filed for bankruptcy in 2012 and faced a $2.8 billion claim by the UK Kodak Pension Plan (KPP). The PPF stepped in and got involved with the KPP’s retiree payments in 2013. As Sky News notes, PPF has been the owner of Kodak Alaris since 2020.
The PPF hasn’t said how much they want to sell Kodak Alaris for. But as Sky News reports, the company’s revenues increased by 29% in the year up to March 31, 2022, reaching €130 million. This increase in revenue was partly due to the company’s recovery from the COVID-19 pandemic.
According to Sky News, there’s still no official comment on the Kodak Alaris sale as PPF spokesperson declined to comment on the news. But if we hear more, we’ll keep you posted.
[via The Phoblographer]
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