NYSE Opening Bell Ringing Signifies the ‘New Kodak’
NEW YORK—With nearly 60 customers from across the nation in attendance, Kodak President and CEO Antonio Perez rang the opening bell on the New York Stock Exchange (NYSE) Wednesday morning to celebrate Kodak’s recent relisting.
Following the company's emergence from Chapter 11 bankruptcy reorganization on Sept. 3, Kodak common shares actually began trading on the NYSE Nov. 1 under the new "KODK" symbol. The new, smaller Kodak has shed the cameras, film sales and consumer photo developing that made it a household name, instead focusing on digital printing technology for graphic arts industry customers, touch-screen sensor components for smartphones and computer tablets, and film for the movie industry.
“This bell ringing is a symbol of Kodak's remarkable transformation," said Perez. "It's a new year, with a new company, a new stock and a new start. We are a B2B company focused on innovating for our customers and delivering value to our shareholders.
“This bell ringing has extra significance for everyone at the new Kodak because we are reaffirming our strong connections with our customers by having some of them join us at this event," he added.
Printing industry leaders, including senior executives from Japs-Olson, Mercury Print Productions, the Wilen Group, Continental Web Press, King Printing, Tribune Direct, Taylor Corp., DG3, Fenske Media, P.A. Hutchison, Fry Communications, Corporate Press, Webcrafters, Linemark Printing and Modern Litho, among several others, arrived the day before—despite the frigid temperatures—for a celebratory dinner at the NYSE. They also stood on the NYSE trading floor the following morning to witness, first-hand, the traditional opening bell ringing and to watch traders at work.
Following the bell ringing ceremony, Kodak organized an industry panel discussion moderated by Perez, which featured Frank Romano, Rochester Institute of Technology (RIT) professor emeritus; Marco Boer, vice president of I.T. Strategies, and conference program chair for the upcoming Inkjet Summit; and Terry Taber, chief technical officer and senior VP at Kodak.
As Perez and Taber pointed out, the “new Kodak” is a global technology company offering solutions and professional services for the packaging, graphic communications and functional printing markets. The firm intends to leverage its technical expertise to drive change in the industry, with new applications and a broad product portfolio.
Some of the key Kodak products for the graphic arts industry, which they contend will allow them to do this, include:
- Kodak Prosper presses and imprinting systems, based on the company's Stream continuous commercial inkjet technology;
- Kodak Flexcel packaging solutions, driven by Kodak SquareSpot laser imaging technology, which is also a “breakthrough” technology for functional printing solutions that will be delivered to the market starting in 2014; and
- Kodak Sonora XP process-free plates that enable printers to take plates straight to press without any chemistry or processing, and without sacrificing quality or productivity.