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Image By Jon Tyson
CREDIT: Jon Tyson

Kodak Paper & Chemistry Sold To Chinese Company

In 2012, Kodak’s bankruptcy resulted in the formation of the Kodak Alaris company, a British organisation that part-owns the Kodak brand along with the American Eastman Kodak Company. In 2019, Kodak Alaris began searching for a buyer of its paper and chemistry business, valuing it at $34 million.

After talks with various companies, including Eastman Kodak who looked into possibly buying back this arm of the Kodak brand, Inside Imaging now reports that Chinese company Sino Promise has settled an agreement to purchase the business for an undisclosed amount.

Though the film division of the company is not included in the sale, the paper and photochemical segment is said to make up roughly 56% of Kodak Alaris’ business. However, this sale should not see a huge shift for Kodak customers as the brand’s paper and chemistry has been made in Sino Promise-owned factories across China for several years. Sino Promise also dubs themselves as “the largest distributor of Kodak Alaris in the world”, so perhaps it was inevitable that this deal would eventually take place.

You can read up on this story on Inside Imaging’s website here.