Not to Bankrupt, Kodak Focus to Asia Pacific
Kodak, company is legendary in field of photography, explained that only Kodak in United States alone who went bankrupt. Conditions Kodak in Asia Pacific is still normal. Regional Managing Director Asia Pacific Region, Eastman Kodak Company Lois Lebegue Kodak explain bankruptcy in United States will not affect Kodak’s business in Asia Pacific, especially in Indonesia.
“Kodak Conditions in Asia and United States (U.S.) is very different. Filing petition for bankruptcy protection applies only Kodak in U.S.,” Lois said after giving a press conference Kodak business in Horizon Club Shangri-La Hotel Jakarta, Tuesday (6/3 / 2012). Kodak has filed for bankruptcy protection to Bankruptcy Court of United States by using Chapter 11 Bankruptcy Act. Filing was completed on 18 January.
However, filing for bankruptcy protection does not mean that Kodak globally went bankrupt. Lois said, bankruptcy is only happening in U.S. Filing for bankruptcy protection Kodak was done solely to protect business, so there remains Kodak Company in future and can continue its business in future.
These four elements of filing for bankruptcy protection U.S. Bankruptcy Court Kodak:
- Recalculate cost of previous company. This was done so that costs incurred do not affect Kodak’s current business.
- To get funds in next restructure Kodak wealth.
- To sell strategic assets not mainly Kodak Gallery and Intellectual Property (IP) or copyright that is not useful for Kodak.
- Restructuring of proceeds from bankruptcy filing, fund will be used for investment in Asia Pacific region in particular Kodak.
Focus to Asia Pacific
Lois thought that Kodak investment will be devoted to Asia Pacific, one of which Indonesia is because Asia is developing very good condition, both from economic growth to political stability.
“Therefore we will focus on Asia, especially Indonesia,” he explained.
Because income of Kodak in Indonesia during 2011 amounting to 10-30 million U.S. dollars. 15-20 percent of that amount contributed to Kodak Southeast Asia. Indonesia considered market is taken into account in Southeast Asia, after China.
While Kodak’s revenue in Southeast Asia throughout 2011 amounting to 1 to 1.5 billion U.S. dollars. In this year, its revenue is targeted to grow 10-20 percent compared to 2011 primarily from printing business.
Larges print opportunity
During this time existing printing business has not been used optimally for Kodak. But in last two years, printing business, especially from digital cameras to grow significantly.
Lois claims of all packaging business, predictably about 40 percent would use Kodak technology. While the entire business of a book or newspaper, about 50 percent using Kodak technology.
“The growth of printing business in Asia rose above 10 percent per year. That is what causes us to focus there,” he explained.
Lois also claims for segment packaging (Packaging), growth of Kodak’s business reaches more than 100 percent per year. While for a newspaper or magazine printing business has increased about 12 percent per year.
“We will create new technologies, especially after changing printing business from conventional to digital, especially after era of digital books (e-Book). It will be business opportunities of its own mainly print on demand like Amazon,” he explained.