Corporation Eastman Kodak, a renowned American manufacturer of photographic equipment, is selling its photosensor division to Platinum Equity. The amount of the deal was not disclosed.
To Platinum Equity The deal will result in over 24,000 square feet of manufacturing and research facilities in Rochester, home of the acquired division's manufacturing and research and development facilities. The parties also assured that about 200 full-time employees Kodak receive a job offer Platinum Equity.
The deal followed several announcements from the company. Kodak that to keep production afloat, it needs multimillion-dollar financial support. There was talk of the sale of patents and large loans. The company has repeatedly stated that it will try to avoid bankruptcy proceedings by any means. Immediately after the announcement of the stock deal Kodak rose by 6%.