Now part of Montagu’s portfolio, the flexo division operates as a standalone company known as Miraclon. As announced earlier, Kodak’s flexographic leadership team has transitioned as part of the deal and will continue to directly manage this business.
Miraclon’s offering comprises of the development, manufacture and sale of flexo machinery and products, will include Kodak’s flagship Flexcel NX system.
Jim Continenza, executive chairman of Kodak, said, “Closing this sale was a priority for Kodak, and I’m proud we were able to execute on this plan and leverage a homegrown asset. This is one of many steps we are taking to increase our financial stability and focus on generating cash for our shareholders.”
Over the past five years, the flexo pre-press division has grown and thrived within Kodak and become a significant player in the package printing industry.
Kodak has reiterated its commitment to focus on the growth areas of Sonora plates, enterprise inkjet, workflow software and brand licensing, aiming to maximise value in commercial printing, film and advanced materials.