Kodak announced yesterday :
“Eastman Kodak Company today announced a comprehensive settlement agreement with the U.K. Kodak Pension Plan (KPP), its largest creditor, with respect to its Chapter 11 Plan of Reorganization. Under the agreement, which will be filed with the U.S. Bankruptcy Court, Kodak’s Personalized Imaging and Document Imaging businesses will be spun off under new ownership to KPP.”
But, you ask, what does this mean for the future of Pro films like TX400, Portra and Ektar? The answer- direct from my friends at Kodak is:… nothing! All pro films both still and motion are not affected by this agreement. Furthermore, this agreement should give Kodak a better financial footing (exit chapter 11!!!!!) and help to keep film production in Rochester alive for the forseable future- a very good thing.
Now take a deep breath and go buy and shoot some film!
Viva la Revolution- Stephen
Link to press release: