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Kodak is Out of Bankruptcy, Says It’s a Tech Company — But Still Supports Film

Kodak is Out of Bankruptcy, Says It's a Tech Company -- But Still Supports Film

Kodak has emerged from Chapter 11 as a reorganized company following restructuring, the company announced today.

“We have been revitalized by our transformation and restructured to become a formidable competitor – leaner, with a strong capital structure, a healthy balance sheet, and the industry’s best technology,” said Antonio M. Perez, Kodak chairman and chief executive officer, in a statement. “We have the right technology at the right time as printing markets increasingly transition to digital.”

Kodak will continue to support the motion picture industry. Despite the affordability of digital film, many directors of photography still prefer to shoot on film. Kodak also has deals with many studios, including Disney, Paramount, Warner Bros. and Fox, to supply them with film stock.

Kodak filed for Chapter 11 in January 2012.

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