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Kodak Shares Surge 13% Premarket On News Of Sale Of Flexographic Packaging Business

by marketwatch.com posted 4months ago 18 views
Eastman Kodak Co.'s shares soared 13% in premarket trade Monday, after the company said it has reached a deal to sell its Flexographic Packaging division to Montagu Private Equity LLP for $390 million in proceeds. The business will be run as a new standalone company on closing and will develop, manufacture and sell flexographic product, including its flagship Kodak Flexcel NX System to the packing print market. Flexography is a printing process that uses a flexible relief plate, similar to a letterpress that can be used on most materials.

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