Kodak to Unveil Plans for Health Group, Inkjet Market Before Feb. 8
Eastman Kodak Co. is making "significant progress" toward completing its study of alternatives for its Health Group, and expects to make a public announcement on or before Feb. 8, company chairman and CEO Antonio M. Perez said yesterday. The Rochester, N.Y.-based company also expects to announce the launch of its inkjet initiative at the same time. "Our intention to meaningfully participate in the inkjet market and our decision to define a new strategic direction for our Health Group are understandably of interest to our investors, and I am mindful of our commitment to provide updates on both of these initiatives by the end of this year," Perez said. "We are pleased with our progress to date and we fully expect to make definitive announcements on both of these important business initiatives on or before Feb. 8." Kodak announced in May that it was considering selling its second-highest revenue earner, the 110-year-old Health Group, which generated $2.7 billion in 2005 (See 'Kodak Loses $298M, May Sell Health Imaging Unit'). Kodak is holding its annual strategy meeting with investors in New York on Feb. 8. The company said it expects to release its fourth-quarter 2006 financial results on Monday, Jan. 31.