Kodak to Sell 3 Units in Move to Focus on Core Businesses
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ROCHESTER, N.Y. — Eastman Kodak Co., the world’s biggest camera maker, said Monday that it will sell off three businesses under a plan to focus on core operations by divesting 10 non-strategic properties.
Kodak will get rid of two subsidiaries--Atex Inc. and Kodak Credit Corp.--as well as its Estek products division. The transactions will affect about 730 employees. Financial terms were not disclosed.
Atex, which makes electronic systems for print media, will be sold to a consortium headed by international publishing executive Danny Chapchal.
General Electric Co.’s GE Capital Vendor Financial Services will buy Eastman Kodak Credit’s stock and provide financing for Kodak equipment customers.
Estek, the Charlotte, N.C.-based division, will be sold to ADE Corp. Estek makes equipment used in the semiconductor industry for detecting contamination in silicon wafers.
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