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Reinvented Kodak returns to NYSE

2013-11-01 12 Dailymotion

Shares of Eastman Kodak are being traded again on the New York Stock Exchange. <br /><br />The photography pioneer invented the digital camera, but failed to adapt fast enough to the digital age. With everyone taking snaps with their mobile phones hardly anyone was buying film. <br /><br />The company also had huge pension fund liabilities. <br /><br />As a result it was forced to file for bankruptcy protection from its creditors at the start of 2012, with debts of $6.75 billion.<br /><br />Since then – in a lengthy and complicated process – it has sold assets, paid off its lenders in full and attracted new investors to reemerge as a smaller company focused on digital imaging services for packaging, graphic communications and printing. <br /><br />NYSE Euronext welcomed Kodak’s relisting which helps it emphasise its progress in attracting technology firms.

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