Kodak emerges from bankruptcy with focus on commercial printing
(REUTERS) - Eastman Kodak Co, the photography pioneer which invented the digital camera, emerged from Chapter 11 bankruptcy protection on Tuesday, with plans to continue as a smaller digital imaging company.
The new Kodak will focus on commercial products such as high-speed digital printing technology and printing on flexible packaging for consumer goods.
"You can't imagine how much I have been waiting for this moment... This is a totally new company," chief executive Antonio Perez told reporters.
Kodak, founded in 1880 by George Eastman, was for years synonymous with household cameras and family snapshots. It filed a US$6.75 billion (S$8.6 billion) bankruptcy in January 2012, weighed down by high pension costs and a years-long delay in embracing digital camera technology.