Kodak seeks buyer for its Eastman Business Park
26 Mar 2014
Eastman Kodak Co, which last year emerged from bankruptcy, is seeking a buyer for its Eastman Business Park – one of the largest industrial and technology parks in the US.
Encompassing 1,200 acres, The Eastman Business Park is located in the City of Rochester in New York.
It has extensive support infrastructure, including a power plant with 125 megawatts of capacity, water supply and wastewater treatment facilities, security and emergency services, and an in-plant railroad.
The park has 7.2 million square feet of space with 50 tenants and owners employing some 4,700 people.
Kodak believes the well-equipped park can best continue its transformation into a multi-use, multi-tenant industrial facility under the ownership of a firm focused on its redevelopment. At the same time, the sale will help Kodak to maintain its focus on its commercial imaging businesses.
Kodak's new CEO Jeff Clark, said that the park is already on the path to becoming a powerful economic growth engine for this region, and he says a strong new owner will expedite the process. Clarke says Kodak needs to focus on what it does best, which is innovating and delivering superior solutions to customers around the world.
Kodak plans to maintain a significant presence at the site for its research, development and manufacturing activities, including for two new projects focused on production of films for touch screen sensors in collaboration with UniPixel and Kingsbury.
Kodak Co, the iconic photographic film pioneer which invented the roll film way back in 1885, filed for bankruptcy protection in January 2012.
A decade late in transiting to the digital age, Kodak, which invented the roll film way back in 1885, filed for bankruptcy protection in January 2012. (See: Photographic film pioneer Eastman Kodak files for bankruptcy protection)
After cutting jobs, divesting patents and unprofitable business units during its Chapter 11 process, the company emerged from bankruptcy in September 2013 and is now focusing on commercial products such as high-speed digital printing technology and printing on flexible packaging for consumer goods.
