Kodak-Sun Chemicalventure starts

Will Astor//January 29, 1998//

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Eastman Kodak Co. today announced the opening of the worldwide headquarters of Kodak Polychrome Graphics.
A 50/50 joint venture of Kodak and Sun Chemical Corp., Kodak Polychrome supplies a range of graphic-arts products. Among its offerings are film, paper, conventional lithographic plates, digital color proofing products, processing chemicals and computer-to-plate systems.
The headquarters opening comes one week after the joint venture was cleared to operate in the European common market and three months after Kodak and Sun Chemical announced the enterprise’s start-up.
“Our rapid move from concept to company reflects our strong commitment to assume a global role in this highly competitive industry,” said Mark Stewart, Kodak Polychrome CEO. “We’re hitting the ground running.”
The venture combines existing businesses previously run independently by Kodak and Sun Chemical: the photo giant’s Kodak Graphics operation and Sun’s Polychrome.
The two firms inked final papers on the joint venture approximately six weeks ago.
The resulting operation has sales of more than $1 billion and a work force of 2,600–800 from Kodak Graphics and 1,800 from Polychrome.
Thumbs up from the European Union was the last regulatory hurdle the joint venture needed to start operating as Kodak Polychrome.