Eastman Kodak Company (NYSE: EK) is continuing to reduce its activity in Israel. After laying off 200 manufacturing employees at Kodak Israel over the past six months, the company is making more cutbacks that were not part of the original plan. The company has decided to close down its professional digital imaging components development and production activity in Israel, which it acquired as part of its acquisition of Creo in 2005. The unit currently has 50 employees.
Kodak Israel declined to comment on the report.
Kodak Israel, run by general manager Hezi Rotman, is part of Kodak's Graphic Communications Group (GCG), which develops printing solutions. In contrast to Kodak's other activities in Israel, the development of professional digital imaging components is part of Kodak's consumer products business, which does not exist in Israel.
Kodak decided discontinue activity that is not part of the core products of Kodak Israel. The company today notified the employees of the decision, and some of them have already been let go.
The professional cameras made by the unit cost tens of thousands of dollars each. They have 30-megapixel resolution, compared with 2-4 megapixel resolution of ordinary cameras.
Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2009
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