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Kodak acquires Massachusetts manufacturer
Kodak acquires Massachusetts manufacturer
Eastman Kodak on Monday said it has acquired the assets of ECRM Inc.’s computer-to-plate (CTP) device business for the graphic arts and newspaper industries.
Based in Massachusetts, ECRM is a global leader in imaging technologies for the graphic communications industry, officials said. The transaction includes the equipment, contracts, inventory and intellectual property of the acquired business. Financial terms of the transaction were not disclosed.
“This acquisition reflects Kodak’s commitment to the printing industry and our focus on investing in growth,” said Kodak Executive Chairman and CEO Jim Continenza in a statement. “Acquiring these assets of an impressive company like ECRM makes us an even stronger player in the CTP category and we will continue to look for ways to better serve customers across the spectrum of traditional and digital print.”
The acquisition is expected to further strengthen Kodak’s position in the CTP segment of the commercial printing industry.
“In the wake of a challenging pandemic year, and on the anniversary of ECRM’s 50th year, we decided that this is a good time to rest on our past successes, yet protect and service our many long-term customers with an established company of appropriate size, CTP competence and resources. We are pleased today to place our company assets with Kodak,” said Rick Black, chairman and CEO of ECRM.
Shares of Kodak stock (NYSE: KODK) were trading down 19 cents at $7.23 midday Monday.
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