The OEM could lose $17 million (€15.9 million) in the sale of its Prosper Print business.
Democrat and Chronicle reported that the company could lose “$17 million in restructuring and related charges” on completion of the sale. It was first announced last year (http://www.therecycler.com/posts/kodak-to-sell-inkjet-press-business/) that Kodak wanted to sell its commercial inkjet business in Ohio that employs 400, so that it could “focus on developing its Ultrastream technology”.
Kodak filed with the US Securities and Exchange Commission (SEC) last week, and said that it would “incur somewhere between $12 [million to] $17 million (€11 million to €15.9 million) in costs”. $7 million (€6.5 million) of this will be connected to “separation benefits”; $6 million (€5.6 million) will be because of inventory “write-downs”; $3 million (€2.8 million) will go to write off assets; and $1 million (€.93 million) will be incurred by “cash charges”.
Other expenditures will be related to “special termination benefits from the company’s pension plans”, and these are expected to be between $3 million to $5 million (€2.8 million to €4.6 million). So far the sale details have remained confidential, but Jeffrey Clark, CEO for Kodak, has “remained upbeat” when talking to investors.