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Kodak ready to talk reorganization with shareholders


ROCHESTER, N.Y. — Kodak is moving forward with its plans to emerge from bankruptcy and said Friday it is ready to discuss reorganization plans with certain key creditor groups.

To facilitate these discussions with the widest possible group of interested parties, including holders of publicly-traded securities, the company is publicly disclosing certain forward-looking information showing its cash flow forecast and financial projections for Kodak’s commercial imaging business, which is focused on commercial, packaging, and functional printing solutions and enterprise services, and will form the company upon emergence.

These projections include forecasts of its U.S. operating cash flow through June 2013, as well as pro-forma projections of the company’s combined operating cash flow after taking into account previously announced portfolio strategy decisions, such as the intention to divest the document imaging and personalized imaging businesses, as well as its intention to wind down the sale of consumer inkjet printers and focus on servicing its installed base of customers.

Kodak chairman and CEO Antonio Perez said, “As we move forward to emergence and explore an array of financing options, we believe there is confidence and interest among the financial community in our commercial imaging business and its future business plans. We are gratified that there appears to be interest among several potential lenders to finance this business and its emergence, and with this disclosure, we are now better positioned to explore these funding opportunities.”

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