Eastman Kodak Company (EK) completed the acquisition of all the assets of the relief plates business of Tokyo Ohka Kogyo Co., Ltd.. The financial terms of the transaction were not disclosed.
Tokyo Ohka Kogyo’s relief plate business provides flexography, letterpress, Braille, molding plate products and other products.
According to the terms of the agreement, Tokyo Ohka Kogyo will transfer its manufacturing plant located in Yamanashi Prefecture to Eastman Kodak.
The relief plate business is now a part of Kodak’s Prepress Solutions business, as Yamanashi RPB Supply Company. Consequently, 100 employees of Tokyo Ohka Kogyo’s relief plates business joined Eastman Kodak.
Management expects that the acquisition will enhance Eastman Kodak’s capabilities to serve customers, providing superior growth exposure to the packaging industry. Eastman Kodak believes that the merger of the employee team will create value for customers and shareholders. The acquisition will also support Eastman Kodak in achieving its target of doubling revenues of delivering solutions for the packaging industry by 2012.
Recently, Eastman Kodak launched new KODAK PROFESSIONAL ENDURA Electrophotographic Printing (EP) Papers family, which includes patented E-surface technology enabling high-quality, photo-grade media for EP presses. The company also introduced KODAK PROFESSIONAL PORTRA, which incorporates a significantly finer grain structure in a 160-speed color negative film.
However, Eastman Kodak operates in a highly competitive market and encounters aggressive price competition for all of its products and services from numerous companies globally. Kodak’s direct competitors include Canon Inc. (CAJ),Sony Corp. (SNE) and FUJIFILM Holdings Corp..
CANON INC ADR (CAJ): Free Stock Analysis Report
EASTMAN KODAK (EK): Free Stock Analysis Report
SONY CORP ADR (SNE): Free Stock Analysis Report
Zacks Investment Research
