Kodak completes acquisition of relief plates business from Japan's TOK
Thursday, March 03, 2011
Press release from the issuing company
Rochester, N.Y., - Eastman Kodak Company has completed its previously announced acquisition of substantially all of the assets of the relief plates business of Tokyo Ohka Kogyo Co., Ltd. (TOK). The acquisition expands and enhances Kodak's capabilities to serve customers, particularly in the packaging industry, a key growth segment for the company.
The relief plate business includes flexography, letterpress, Braille and molding plate products produced and marketed by TOK worldwide. Included in the acquisition agreement is a manufacturing plant and development facility located in Yamanashi Prefecture, west of Tokyo, which produces relief plates.
This newly acquired business is now a part of Kodak's Prepress Solutions business and will conduct business under the name of Yamanashi RPB Supply Company.
Kodak is a worldwide leader in the printing plates market, with a portfolio that includes digital offset plates, flexographic plates, and analog offset plates, which are part of Kodak's comprehensive family of prepress solutions, including computer-to-plate devices, proofing solutions, plate processing equipment, and workflow. Kodak has been steadily expanding its portfolio to offer complete solutions for packaging customers, including the award-winning KODAK FLEXCEL NX Digital Flexographic System, KODAK PRINERGY POWERPACK Workflow, and the KODAK APPROVAL NX Digital Color Imaging System.
"Kodak is strongly committed to the packaging industry and we are seeing growing demand, especially in the Asia-Pacific region," said Douglas Edwards, Vice President and General Manager, Prepress Solutions, Kodak. "Delivering solutions for the packaging industry is one of Kodak's key corporate growth initiatives, and we expect to double revenues in this segment by 2012, so this will contribute toward that goal."
The approximately 100 employees who were part of TOK's relief plates business, most of them located in Yamanashi, have joined Kodak. "We are delighted by this opportunity to add TOK's talented employees to our existing team for the benefit of our customers and shareholders," said Edwards.
Financial terms of the agreement are not being disclosed.
KODAK Products are backed by KODAK Service and Support. KODAK Service and Support is made up of more than 3,000 professionals in 120 countries. It is a leading multi-vendor integrated services provider, delivering consulting, installation, maintenance and support services for commercial printing, graphic communications, document imaging, data storage and retail industries. KODAK Service and Support professionals are uniquely qualified to provide services that control costs, maximize productivity, and minimize business risk.
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