I’ve seen a few articles on this over the last few days and at first I wasn’t able to make much sense about it all. (hence no news here until now)
From what I’ve gathered KPP (Kodak Pension Plan) was owed quite a large sum by Kodak (for what we can only assume was some sort of loan during Kodaks financial troubles.) So Kodak has sold off it’s Personalised Imaging business to clear the debt with KPP.
In Australia we call a pension plan “Superannuation” so why would you want a managed pension plan to have control over the film business that we know is quite profitable? It initially doesn’t sound very good but the more you think about it it’s not so bad.
KPP will want to maximise profits from that division in order to get dividends that will pay back the money they lost with Kodak and an excerpt from a Wall Street Journal article reads, and I quote;
“In the coming months, the U.K. retirees, about 15,000 total, plan to establish a governance structure and hire executives to try to generate cash flows that satisfy pension obligations, among other objectives, said Steven Ross, chairman of the U.K. Kodak Pension Plan. Down the road, KPP could sell the businesses, he added, but it would be at least 10 years off.”
So if you are pondering on the future of Kodak film, I think we may continue to see it being produced for some time yet, if there is a sell off of sorts we may see a new company take the reins and steer kodak film in a new direction.
Either way it goes, there are still plenty of options for us film shooters and I’ll been keeping an eye on the news about Kodak and KPP, updates here as they happen.