Posts tagged: Announcement

Should You Make a Purchase at the Next Print Show?

Colin McMahon
 Aug 30, 2019

Are you an executive or decision-maker working for an organization that provides printing services? Do you have a plan in place to stay up to date with the ever-changing hardware and software landscape? Are you taking steps to ensure your continued profitability and revenue growth? Remember, your business plan is an on-going, live document that should be reviewed against these criteria on a regular cadence. Print is arguably a more competitive industry than most, as players aren’t just competing with each other but with online print aggregators and online marketing communication solutions. In response to this added competition, as well as continued consolidation of the market, many PSPs have turned to new products to help drive profits.

However, which new products are worthy of investment? And, what hardware will best enable these products? These are the questions that decision-makers must address as they look to the year ahead, on top of assessing maintenance levels, renewing lease agreements, and other factors that can impact the bottom line. With so many variables, updating the business plan for the coming year is an essential step for those at the executive level. Flying blind with no specific set of objectives removes a company’s ability to proactively control their future, leaving them reacting to events as they occur instead of laying the infrastructure to be prepared for market changes.

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How the U.K. Pension Plan Ended Up Owning a Big Part of Kodak

Ron Gilboa
 Apr 30, 2013

Yesterday Kodak and the U.K. Based Kodak Pension Plan (KPP) made news. Resolving their financial issues was only one element but surprisingly KPP ended up owning key Kodak businesses. In its release Kodak stated the following: “Eastman Kodak Company announced a settlement agreement with the U.K. Kodak Pension Plan (KPP).” KPP is Kodak’s 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.”

“The settlement agreement provides, among other things, for the spin-off of Kodak’s Personalized Imaging and Document Imaging businesses to KPP for cash and non-cash consideration of $650 million. Certain proceeds will be used to support the emergence of Kodak from Chapter 11 and the growth of its Commercial Imaging business. The agreement also settles approximately $2.8 billion of claims by KPP against Kodak and certain of its affiliates.”

“The agreement will be implemented as part of Kodak’s Chapter 11 plan in the United States. At the consummation of the spin-off, Kodak and its worldwide affiliates will be released from their obligations to KPP. The UK Pensions Regulator (“the Regulator”) has been kept fully informed of this process and the Regulator has granted clearance in respect of the acquisition. The Regulator has decided that it will approve the release of Kodak Limited, the KPP’s sponsoring employer, from its liabilities to the KPP and the UK Pension Protection Fund has confirmed that it has no objection. Closing of the transaction is subject to the approval of the U.S. Bankruptcy Court, approval by the Regulator and the satisfaction or waiver of other conditions precedent.” Read more »

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