Kodak says to take charges from two plant closures
NEW YORK, June 29 (Reuters) Eastman Kodak Co said on Thursday it will take a million charge related to the closing of a plant in Chalon-Sur-Saone, France, and a million charge related to the closing of a plant in Kirkby, England.
Eastman Kodak said the moves were part of its previously announced restructuring plan, and the company expects to continue to consolidate its global operations to reduce excess capacity. It said the Kirkby move will affect 85 employees.
Since late 2003, Kodak has been beefing up its digital photography products, hoping to outpace the decline in demand for film, historically its main revenue source. At the same time, it is shrinking its costs by cutting up to 25,000 jobs and trimming manufacturing assets.
REUTERS CS KP1916