facebook
twitter
rss
account
search
search
 

Brother makes offer for Kodak scanning business

April 15, 2013 at 12:48 PM   |   Comments

| License Photo
ROCHESTER, N.Y., April 15 (UPI) -- Struggling U.S. film giant Eastman Kodak Co. said it had a tentative $210 million offer for its document scanning business.

Brother Industries Ltd., a Japanese company, has made the cash offer that needs to be approved by the bankruptcy court before it can proceed, the Rochester (N.Y.) Democrat and Chronicle reported Monday.

The sale "is another key step in Kodak's path to emergence, [taking] us closer to realizing our strategic vision for Kodak's future," said Kodak Chief Executive Officer Antonio Perez in a statement.

"A sale to Brother, should they prevail, would represent an excellent outcome for Document Imaging's customers, partners and employees," he said.

The deal would include Brother taking over the service contracts that Kodak has signed with customers, which represent a liability, the newspaper said.

Kodak employs 13,000 people worldwide, but did not say how many jobs would be affected by a sale of its document imaging business, which is mostly comprised of scanners.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Hershey's new logo launched, compared to emoji poop
2
Brazil Air Force, Saab discuss Gripen procurement deal
3
Google completes first phase of testing drone delivery system
4
The 'Home of the Whopper' to keep headquarters in U.S.
5
Canadian media must broadcast official emergency notifications
Trending News
Video
x
Feedback