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Reorganizing itself under the bankruptcy protection, the once blue chip company, Eastman Kodak Company (PINK:EKDKQ) has decided to sell its camera-film business unit, in addition to some other businesses in order to raise additional funds even as it auctions several of its patents.
On Thursday, the Kodak revealed that apart from selling its conventional print film business, the company will also sell its Kiosk, a digital photo developer, and commercial scanner business.
Besides, a business that captures the exhilarated mood of theme park visitors as memento is also up for grabs.
All the businesses which are up for sale are categorized under two divisions: “personalized imaging” and “document imaging.” Meanwhile, Kodak is focused on its printer business, which is its cash-cow.
During a conference call with reporters, Kodak’s CEO, Antonio Perez said that EKDKQ intends to complete the sale by the end of first half of 2013, a time when Kodak is also expecting to exit from Chapter 11 Bankruptcy protection.
Perez also added that in order to secure a better future for the company, Kodak needed to make some tough decisions and this (selling of businesses) is one of those decisions.
Nevertheless, the CEO declined to comment over how much funds the company expects from selling those businesses.
