Kodak’s paper and chemistry business sold to Chinese company, a report
Jul 12, 2020
Udi Tirosh
Udi Tirosh is an entrepreneur, photography inventor, journalist, educator, and writer based in Israel. With over 25 years of experience in the photo-video industry, Udi has built and sold several photography-related brands. Udi has a double degree in mass media communications and computer science.
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According to the Australian website, Inside Imaging, the Kodak paper and chemistry business was just sold to a Chinese company, Sino Promise Holdings. Sino is a relatively young company and according to their website, they were established in 1993 and are the largest distributor of Kodak Alaris in the world.
According to Inside Imaging, Kodak made an internal announcement about the purchase on July 7th.
When you look at the combined statements of Inside Imaging and Sino holdings, this report makes sense. According to SPH, they provide Kodak paper and chem to 8,000 retailers in the Asia Pacific and Russian territories. They also bought a factory from Kodak which they use to manufacture a few papers, films, and chemicals under the Kodak brand. It is not rare in the business world for a distributor to buy the manufacture (or vice versa), so this sounds like a legitimate report.
DCW highlights the fact that Kodak’s film business was not part of the acquisition.
About a year and a half ago we reported a rumor that Kodak Alaris was up for sale. I guess those rumors were true.
[via DCW]
Udi Tirosh
Udi Tirosh is an entrepreneur, photography inventor, journalist, educator, and writer based in Israel. With over 25 years of experience in the photo-video industry, Udi has built and sold several photography-related brands. Udi has a double degree in mass media communications and computer science.
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8 responses to “Kodak’s paper and chemistry business sold to Chinese company, a report”
China is not copying anymore, China is buying. We are entering a new era
I didn’t see that one coming..
Hasselblad have been there as well. Who is next ?
https://youtu.be/eVrmFgvEnAA Kodak is one of the stupidest companies ever.
Except it’s Kodak Alaris, that acquired rights to Kodak film, paper & chemistry back in 2012
Kodak Alaris is a British manufacturer and marketer of traditional photographic supplies (including film, paper, and processing chemicals), hardware and software for digital imaging and information management, and retail printing kiosks.
The company is headquartered in Hemel Hempstead, Hertfordshire. The company shares ownership of the Kodak brand with the Eastman Kodak Company (usually known simply as Kodak).
This was the result of 2012, Kodak filed for bankruptcy after a years-long decline in the company’s core business related to film photography.
As part of the bankruptcy, Kodak faced a $2.8 billion claim by the UK Kodak Pension Plan (KPP). The claim was resolved and Kodak Alaris was formed when KPP paid $325 million for Kodak’s personalized imaging and document imaging businesses.
KPP continues to control Kodak Alaris as a privately held company through Kodak Alaris Holdings Limited.
Oh well
I worked at Kodak for about 20 years, until our division was sold off. I have a lot of opinions about what went wrong, but it really doesn’t matter, Now, 20+ years later I don’t care. I haven’t bought one of their products since I was sold. And no, it’s not sour grapes, there was really no compelling reason to do so.
Thought that happened on 2005?