Judge Approves Kodak's Bankruptcy Plan

NEW YORK - Eastman Kodak Co, once a mighty photography pioneer, earned court approval on Tuesday for a plan to emerge from bankruptcy as a much smaller digital-imaging company.

The green light from U.S. Bankruptcy Judge Allan Gropper in New York puts Kodak on track to exit bankruptcy in about two weeks.

"It will be enormously valuable for the company to get out of Chapter 11 and hopefully begin to regain its position in the pantheon of American business," Gropper said.

Kodak, based in Rochester, New York, was for years synonymous with household cameras and family snapshots. It filed a $6.75 billion bankruptcy in January 2012, weighed down by high pension costs and a years-long delay in embracing digital camera technology.

With the court approval, the company's exit from bankruptcy is now imminent, Chief Executive Antonio Perez said in a statement.

"Next, we move on to emergence as a technology leader serving large and growing commercial imaging markets," he said, adding the company will have a leaner structure and a stronger balance sheet.

It has sold off assets, including its consumer-focused operations, and will emerge from Chapter 11 to focus mainly on commercial products such as high-speed digital printing technology and flexible packaging for consumer goods.

Its new structure will mean a lower public profile for Kodak's iconic name and its expected revenues, about $2.5 billion, are roughly half of what it had when it filed for Chapter 11.

In bankruptcy, Kodak failed to obtain significant value for its portfolio of patents, which experts said was a crucial reason it had to sell core businesses and reinvent itself. But the bankruptcy resolved a major dispute with retirees over pensions, and it has forged a restructuring plan that, while wiping out shareholders, should pay secured creditors and second-lien noteholders in full.

General unsecured creditors are likely to receive a marginal payout in the neighborhood of 4 cents to 5 cents on the dollar.

"This comes on a day when many are losing retirement benefits, and many are finding that their recovery as a creditor is just a minute fraction of what their debt is," Gropper said. "But I cannot decree a larger payment for creditors or any payment for shareholders if the value is not there."

Kodak plans to emerge from bankruptcy as early as Sept. 3, its attorney, Andrew Dietderich, said at a hearing in U.S. Bankruptcy Court in New York.


Kodak's bankruptcy capped a protracted plunge for the company, which was founded in 1880 by George Eastman, the inventor of the hand-held camera and rolled photographic film. Kodak's market value topped $31 billion in the mid-1990s.

When it filed for bankruptcy, it hoped to fetch more than $2 billion for about 1,100 patents related to digital imaging. But due in part to losses in high-profile patent litigation with Apple Inc, the company was only able to sell the portfolio for about $525 million to a consortium led by Intellectual Ventures and RPX Corp.

The company sought other ways to save money. In April, it resolved a crucial dispute with its British pension, which dropped a $2.8 billion claim against Kodak while buying the company's personalized imaging and document imaging businesses for $650 million.

The company reached an $895 million financing deal in June with JPMorgan Chase & Co, Bank of America Corp and Barclays Plc. It also plans a $406 million rights offering, selling 34 million shares, or 85% of the equity in the reorganized company, with proceeds going to creditors.

Shareholders fought to salvage some value from the bankruptcy, including at Tuesday's hearing, saying Kodak was undervaluing its reorganized entity. But Gropper repeatedly denied their efforts to form a committee to represent their interests, saying it was clear there would be no value for them.

Gropper's patience ran out however when he admonished one shareholder for asking what he felt were overly broad questions of Kodak executives about their methodology for the company's valuation. The Canadian shareholder spent close to an hour at the podium.

Cross-examination questions must be narrowly focused, Gropper said.

"It's like that in Canada too, yes?" said the judge, raising his voice.

Gropper later admitted he'd "been a bit impatient" with some stakeholders, calling Kodak's collapse a "tragedy of American economic life."

The case is In re: Eastman Kodak Co, U.S. Bankruptcy Court, Southern District of New York, No. 12-10202.

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Anyone Know a Good Digital Printing Company in Sydney, Australia? We Need Digital Printing for a Lar
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Kodak's Strategic Transformation and Brand Revitalization --- China Intellectual Property
When speaking of Kodak, most people first think of cameras and film. However, for Kodak's employees, this is both glorious and ironic. Since 2003, when the Company announced that it would "march into the digital world," it has successfully evolved from being a giant of traditional imaging products to a global powerhouse of digital products. Nevertheless, little has been stated or publicly known about this rebirth. To understand Kodak's phenomenal success, China IP interviewed Mr. Xu Silin, chief representative of Kodak (China) Investment Company Limited and chief government officer of Kodak Greater China. In his early years, Mr. Xu was a reporter with the Economic Daily. Later he went abroad to study, worked as financial analyst and investment consultant in New York, and subsequently joined Hill & Knowlton (China) Public Relations as the deputy director of the California and Hong Kong/China offices, responsible for government relations, investment and business development. 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With the continuous slump of the sales of films from 2001, Kodak's traditional film industry shrank at an annual rate of 8%. Under the perilous situation, Kodak began to look for breakthroughs, for technological improvement and business diversification. Meanwhile, it rolled up sleeves for strategic transformation," said Mr. Xu. Regardless of Kodak's great success in the film business, it became the biggest obstacle on its road to digitalization. "We have experienced from a high-profiting period to such a downturn. Both we and our company have been through struggles to face and accept the reality. Transformation is not something that happens overnight. We will come across all kinds of difficulties in the process: blames from consumers and customers, and challenges from competitors," stated Xu. The makeover faced extreme difficulties at the beginning. In October 2005, due to the heavy payments brought by restructuring and the continuous decline of revenue from traditional products, Kodak suffered a fourth-quarter economic loss. The net deficiency for the third quarter of 2005 was USD 1.03 billion, a historic new high. Additionally, there were rumors of a purchase by HP. Due to fierce competition in the digital camera market and the enormous cost pressure, moreover in order to further improve profitability and productivity of digital products, Kodak chose in August 2006 to transfer the production, storage and transportation of digital cameras to Flextronics International; and shift a part of the design and development work to the Singapore enterprise. Although Kodak eliminated digital camera production, it took the reins in the high-end system design, contour and appearance design, user experience, and the R&D of digital cameras. In addition, Kodak reserved all intellectual property rights. After the growing pains, Kodak made substantive advancement in its digital business. "In 2003, the digital business only contributed to 30% of the total sales. But now, more than 75% of the products on our product line are about digital products. Digital cameras, digital picture frames, digital video and such consumption products have been expanding their markets; commercial scanners, computer-to-plate, work flow software, digital printers and such commercial products are also emerging on a large scale. From 2003 to 2009, the company maintained more than 10% annual growth rate in its digital business. Even in 2009 when the whole world was swept by financial recession, Kodak stood out and presented us with a 12% growth rate. These figures show that Kodak's transformation has successfully passed its initial stage," Mr. Xu said with pride. "We have initiated a big move at the moment. Formerly, we simply gave the trademark use right to over 6,000 stores; but now, we implement the franchising system," Mr. Xu told the reporter. In the late 1990s after Kodak made headway in China, it established Kodak Express in an overwhelming way in the country's tier-1 and tier-2 cities. Within a few years, the number of Kodak Expresses hit 10,000, and its service network claimed to be only second to China's mail system. However after 2003, the impact of digital imaging forced Kodak to change its focal point The bewildered company had little time or energy to take care of the numerous and scattered Kodak Expresses, which following their parent company, were caught in a dilemma and had to fend by themselves. Mr. Xu told our reporter: "In the process of digitalization, some personalized and fashionable service needs are gradually surfaced. Some customers like going to the stores to get service. Some would rather stay at home and transmit the photos via the Internet to the stores. 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In the B2C field, Kodak supplies digital cameras, digital photo frames and digital videos, and provides consumers the special experience of discovering beauty and sharing happiness. In the B2B field, Kodak has developed computer-to-plate (CTP), digital printing, work flow software and the commercial scanner. Besides CDG and GCG, Kodak also has a FPG (Film & Photo Group), which operates the company's traditional business in the image entertainment area. Additionally Kodak provides professional services to photographers, photojournalists, photographic studios and photo shops. "Digital printing has a very promising growth prospect. In the aspect of laser digital printing (digital xerography), Kodak occupies the high-end market and provides corporate clients one of the best products of the industry. In the field of ink-jet digital printing, Kodak could hardly find a rival. Especially in the printing of variable data, such as invoice and lottery, Kodak owns a majority of market shares. Besides the ordinary black and white ink-jet printers, Kodak has also developed color ink-jet printers used for bill printing by banks and other institutions. Now we are popularizing a Stream digital ink-jet technology, which is a core ink-jet technology exclusively owned by Kodak. stream digital ink-jet printers are applicable to mass and streamline productions, and are completely compatible with variable information. It is expected that owing to the low cost, high efficiency and the offset printing-comparable precision, Stream digital ink-jet printers will finally bring a revolution to the traditional printing industry. In Kodak, we can say that all B2B business under the operation of GCG is about digital," Mr. Xu said. "Kodak positions its core strategy in 'gaining sustainable growth based on the superiorities in the crossed section of material science and digital imaging science.' In fact, Kodak is incomparable in the two fields of technology and intellectual property. This core strategy may be regarded as the continuation of Kodak's advantages, and the core of this core strategy is to develop commercial products," said Mr. Xu.1. What yields a better print from B&W negatives: photo printing or digital printing from a scan?Scanning a negative and then digitally printing it allows for color management, so even if it is a B&W image, your tones will be faithfully reproduced (or can be tuned). You can also remove certain amount of noise, grain, etc.If you develop the photo, your development method, selection of paper, etc. will determine the end result. Since paper has slightly non-linear response to light (and same is with the negative), plus your exposition time, temperature, etc. can vary, your reproducibility of the original image is worsened.The only time you would go for paper print if you have a special negative and paper with larger dynamic range than current CMOS sensors in scanners. 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Specificaly, laser printing is a form of xerography, much like photocopy printing. The exact same technology is used to make the image. The digital image is used to place an electical static charge on parts of a metal drum. Toner attaches to the parts of the drum with the charge, and then transfered to paper. Heat is applied to make the toner stain permanent. An ink jet simply "sprays" a tiny dot of ink on the paper. Lots and lots of dots will make the final image.
Digital Printing & Large Format Printing | DME Visual
DME Visual is a large format digital printing company. But what exactly does that mean? Large format means that our printers can accommodate jobs larger than 18 across. Digital Printing means we can send a proofed image straight to print immediately, and slight changes or variations between printing runs are easy.1. What is the best technology for large, permanent digital printing?The Canon iPF 8300 is one of the more advanced large-format, commercial printers available on the market today. It is indeed designed to produce the highest quality large format prints possible. The key thing about the 8300 is that it uses Lucia EX ink, which is a very new pigment ink formulation specifically designed to produce a wide gamut on print. Similar to Epson's Ultrachrome HDR ink, the solid color gamut reproducible by Lucia EX supports over 90% of the Pantone Solid Color matching system on supported paper types. The Epson 7900 and 9900 are Epson's counterparts, and offer up to 98% Pantone on a specific paper type and at maximum DPI.Ink is the primary factor that affects print output, quality, and gamut. If you intend to create prints that most accurately reproduce color and render fine tonal gradients smoothly, I highly recommend a Canon printer that supports Lucia EX ink, or an Epson printer that supports Ultrachrome HDR ink. For the widest gamut possible on a variety of unique paper types, such as metallic, you might want to look at the Epson Stylus Pro WT7900. This printer uses a new white ink, part of the Ultrachrome HDR White ink set, which allows more control over highlight tones and possibly even white point. When it comes to HP printers, they are currently not as competitive in the area of ink as Canon and Epson are. Their Vivera pigment ink seems to date back to 2006, which is pretty old by current standards. Canon Lucia EX was released in March 2010, and Epson Ultrachrome HDR was released late 2009, so these brands have a considerable edge over the competition when it comes to accurate color reproduction. As for which paper type is best. ..thats a much more subjective area. Both Canon and Epson wide-gamut, large format printers only support their maximum gamuts on a small range of their own brand of papers. A wide gamut is still supported for other papers, including off-brand papers, however they can not guarantee 90% Pantone Solid Color coverage on every paper type (at least, not yet.) There are several key factors in choosing a paper for your prints. Not every type of photography looks the same on any type of paper, so you need to choose paper types that compliment the type of photography you are printing. Some types look best on glossy or luster papers, some require bright white or pure white, other types look best on natural papers with warmer white points. Some experimentation will be necessary to identify which paper types, finishes, and white points best compliment the type of photography you are printing. In this area, Epson offers more brand name papers than others, however their papers are not necessarily the best, either. Canon offers a fairly broad range of paper, however much of it is manufactured by Hahnemuhle. There are also plenty of third party papers from manufacturers who have been in the business for hundreds of years, including Hahnemuhle (and Harman), Moab, Museo, Ilford, Breathing Color, etc. Certain factors of a paper affect the reproducible gmaut when printed on. One of the primary factors that affects gamut is the white point and white brightness of the paper. A "purer" white, one that falls around 5500K-6500K, will expand the reproducible gamut as well as maximum tonal range, as it is a purer, more "white" white. Cooler whites (that show up almost blue) or warmer whites (that show up with more orange or red) will reduce or shift the reproducible gamut, as the paper itself will affect color reproduction. Black and white prints tend to look best with a pure white paper, unless you want the artistic or warming effect of a "natural" white paper (which is what most matte fine art papers provide). The brighter the paper, the greater the tonal range is likely to be. Some papers include optical brighteners, which use UV sensitive material that absorbs UV light and emits light in visible wavelengths. Gloss, semigloss, luster papers often have optical brighteners, which can help improve gamut and tonal range...however since they have UV reactive components, they often require a specific kind of lighting to reproduce color correctly. Another aspect of print quality is paper texture. Not all paper is equal in this regard, and there are a variety of materials, including wood, cotton, bamboo, sugar cane fibers, used to create the printable surface of a paper. Certain fiber types bring out the most in certain types of photography, and certain textures can help add a bit of artistic flare. In my personal experience, I've found that gloss or luster papers are best paired with portraits, pure white papers are ideal for black and white prints, and photo rag (cotton) papers with a natural white produce superb landscape prints. I personally try to avoid papers with optical brighteners, however such papers may serve your specific type of photography well, so I would experiment2. Photo developing with rounded edges?Not quite sure what you mean when you say a photo developing place. Usually the word "developing" means film. Most B&W film these days is processed the same way as color. If you meant photo printing, such as from a digital image - I think anyone that prints can print B&W. For digital printing, They are hard to find at local print places. Hope this helps ...3. When should I use rich black?Rich black should never be used on small text or strokes because of registration between the colors on the press and is a easy way to make your pressman not like you.Single color black should not be used for large coverage areas because of consistency in the black across the area and the depth of the black could be lighter than a rich black. This is especially true if being printed in a gang run on an offset press. Banding can occur depending on what other elements are being printed in line with the black area in question. They could cause the black to be lighter or darker in areas that align with it, depending on the elements color makeup.Rich black can also cause issues when you have white texted reversed out of it. The smaller/thinner the text the more issue you may have. This too is related to registration. If the magenta plate gets slightly out of register, your white text will become pink. This can be avoided by using pullback trapping. In which the software removes a specified amount of the c, m, and y from around the text. Which gives room for error in registration.So why not use pullback for the text and thin strokes? Because they are too thin. By the time the pullback is factored in, you will no longer have a rich black stroke or text because the c, m, and y will have been removed. You now have a single color black stroke, but you've wasted a lot of time/energy.Pullback trapping may not be available to you, depending on the software you use. It is usually a feature in high end RIPing software. Which has all kinds of trapping options (as well as a host of other useful features). If you have the patience/skill, you can replicate this in your design program, but it can get painful/time consuming, depending on the project. I found a lot of pressmen have a preferred rich black mix that they like to print. At one of my previous job, they like 60/40/20/100, but at another job they preferred 30/30/30/100. If you use the same printer all time, it might be worth a conversation with him/her; for other reasons than the mix of rich black. If given the opportunity, most pressmen will be more than happy to answer questions and give suggestions, IF it makes their job easier.You should apply the same rules to digital printing as mentioned above for offset, as they all still apply
Global Digital Printing Market Analysis, Trends, and Forecasts 2020-2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Digital Printing - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering. Digital Printing market worldwide is projected to grow by US$8.3 Billion, driven by a compounded growth of 4.6%. Aqueous, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.2%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$4.8 Billion by the year 2025, Aqueous will bring in healthy gains adding significant momentum to global growth. Representing the developed world, the United States will maintain a 5.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$434.1 Million to the region's size and clout in the next 5 to 6 years. Over US$383.9 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Aqueous will reach a market size of US$613.9 Million by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 4.3% over the next couple of years and add approximately US$1.4 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.1. How was consistency of typefaces achieved in the days of traditional (non-digital) printing presses?There are different answers to this depending on how far back you go. If we start with a real press with lead type in it, each printer would have several batches of type in different sizes, and with variants like Roman and Italic. The type was made by pouring molten lead into molds and letting it cool. The molds had the letters at the bottom, punched into a piece of copper. So the printer's typeface was always self-consistent because the printer was always using the same type. If a piece of type got too worn, you could melt it down and make a new one. But of course it wasn't necessarily consistent with another printer's type.Later we got Linotype machines that would mold the type on the fly for each page. Instead of picking out the type from a box, the machine would create it and set it in response to instructions from a keyboard. The machine had a pool of hot lead inside. Presumably you could order the type face that you wanted from the Linotype company when you bought the machine. Because the machine only had the capacity to make so many kinds of type, they were consistent. Finally, there was photo-offset printing, which didn't use type at all. It worked by a photographic process, beginning with an original that was called "camera-ready copy." These could be made in any number of ways. They could be printed on a press with type, or made on a typewriter, or made with rub-on letters-surely the slowest way, but one that offered the greatest variety of type.If a publishing house had a preferred house typeface, it had to tell the typesetters which one to use. (Authors didn't set their own type back in those days. ) Back when my father was first publishing books, his galley proofs were printed with real type. Once they were checked and corrected, they were photographed to be used in an offset press.How was consistency of typefaces achieved in the days of traditional (non-digital) printing presses?.2. What yields a better print from B&W negatives: photo printing or digital printing from a scan?Flexibility the scan mostly wins. But that assumes a really good film scanner. A flatbed with a film tray ai not what I am talking about. Even the decade-ago desktop standard of 4000 dpi was barely good. And the technology has not advanced much. I think Plustek has the only current high-res desktop film scanner. Be wary of scanners that may generate a shitload of pixels but do not have the quality optics to actually use said pixels.The optical print still does better with some edge cases: Extreme resolution. .. I've got an optical 16x24 from a 35mm Tech Pan neg that very much outresolves even an honest 6000 dpi drum scan of that neg. But that's perfect film, incredible lens (12mm Voigtlander), perfect exposure. And a top-notch enlarger. And a wonderfully OCD printer (human) I wish had not disappeared. Extreme density. .. most scanners have trouble seeing into dense highlights. Doubly so dense silver highlights. Enlarger prints can shoulder off a lot more gracefully3. What is a good online digital printing company and what should I look out for?I've used them for printing full-color booklets and they are cheap with a good product. I provide the layout & design in PDF format and email it to their rep. They do the printing (full-bleed if requested) and binding, then ship it to me. If you place an order for 50 booklets, 24-page, full-color, full bleed, heavy weight glossy cover, and 24# (i think) glossy interior pages, you are looking at about $260 for the whole thing. Shipping is free for orders over $150, it takes about a week to get it after you've emailed it. Expedited shipping is available for a premium. They are located in Minnesota or somewhere up there. The creativity and sweat equity come from your end, the printing and binding comes from theirs. It worked for me. They also do cheap color copies (something like 10 cents a page) and other things that I have yet to investigate. So far, I give them high marks. Plus, a real person always answers the phone when I call.
A Guide to Brochure Printing -
Brochure printing can be easy if you first identify your needs and have a clear sense of your budget. Whether it is for is a real estate listing, a trade show handout, a data sheet, or another application, brochures are a great promotional tool. Start with a layout that includes the text and images you will need to convey your message. Then choose the type of printing that best suits your brochure. Brochures are typically printed in more than one color. There are two basic choices in printing: offset printing and laser or digital printing. Both printing processes are capable of producing large quantities of high-quality documents. Most high quality, full-color commercial printing is done on offset presses using the four-color process. Offset printing is a process whereby ink is spread on a metal plate with etched images, is transferred to an intermediary surface, and is then applied to paper by pressing the paper against the intermediary surface. Although set-up costs can be relatively high, the actual printing is generally inexpensive. Laser or digital printing uses a laser beam to produce an image; this is also the way copy machines work. Offset printing usually produces clearer, crisper type and higher resolution images than laser or digital printing. However, smaller printing jobs can be done on a small low-volume laser or inkjet printer, or at a copy store, thereby eliminating set-up fees and some shipping costs. Choosing paper is another very important aspect of brochure printing. Most printers will recommend a heavyweight, coated, or glossy paper to achieve a more vibrant, upscale look. The folding of your brochure is another key consideration. Basic folding options include: the half fold or single fold, the tri fold (the left and right flaps open), and the "Z" fold (which opens up like an accordion). Almost all printers will give you a greater discount the more you print. Brochure printing can be easy and fun and allow for a good deal of self-expression, so go ahead , what are you waiting for? Print that brochure.
Printing Lingo: What Is Digital Printing? | Formax Printing
The term Digital refers to the digits 0 and 1, which provide the basis for the mathematical language computers use to create, process and store electronic images. Digital Printing is the process of transferring these stored images directly onto paper. Most people can relate to the function of a digital printing press because it operates similar to a desktop printer. Like a desktop printer, the ink used in a digital printing press can be in powder form, like toner, or in liquid form. However, a commercial digital press is much bigger and faster than a desktop printer. And more importantly it offers much better quality, performs way more functions and has a greater number of paper choices. Digital printing is different from other commercial printing methods because it does not involve the creation of printing plates. Instead, the digital files to be printed are electronically transferred directly to the press for output. The press then applies the ink directly to the paper. Being able to print without plates is the primary benefit of digital printing because it saves the time and expense of plate creation. Digital printing has been the fastest growing segment of the printing industry. As a result, substantial technological advances have been made in recent years and digital printing is gradually approaching the quality level of high-end offset printing. Even though the quality gap is narrowing, it is important to note that offset presses still outperform the print quality of digital presses at the current time. One of the main advantages digital printing has over traditional offset printing is its ability to produce short production runs for less cost. Digital press runs of around 1,000 pieces or less are generally more cost effective than similar offset runs because there is no expense associated with the creation of printing plates. Also, the prep time for a digital press is minimal which reduces set-up costs and allows for faster turnaround times. Being able to reduce the cost and time associated with Short Run Printing has made digital printing very popular for Print On Demand services as well as Variable Data Printing. What is Print on Demand? Print On Demand (POD) refers to a printer's ability to produce printed books or other documents on an "as needed" basis. Print On Demand allows a client to keep fewer copies of its printed materials in stock, thus lowering the costs associated with storage and handling. Also, because the client's inventory levels can be kept low, Print On Demand helps reduce the chance of being stuck with printing that has become obsolete. With Print On Demand, you only order printed items as you need them. Variable Data Printing (VDP) is a technique which enables the printed graphics and/or text to change throughout a single production run. In other words, the printed impressions can be different from one piece to another without halting or slowing down the press. Because a digital press prints from a computer file, software can be used to manipulate the output so that each piece in the run prints with a different message or picture. You may have received a postcard, letter or brochure that contained some wording, an image or an offer tailored just to you. Variable printing is particularly popular for direct mail and other promotional pieces because personalization helps increase the response rate. The innovations in digital technology have transformed the printing industry, especially the Short Run printing sector. If you would like to learn more about Digital Printing, Print On Demand or Variable Printing just give Formax a call. We make printing easy for you.1. Back to basics: What is digital printing? - PKN Packaging NewsFor brand marketers who may not know, and are afraid to ask, here's a quick explainer that covers the basics. Digital printing is a relatively new technology - but not that new! The first digital presses came to market in the early 1990s. Digital print technology differs from the the longer-established conventional offset litho and flexo processes in that it is not dependent upon the preparation of a separate plate for each print run. All the colours are printed in a single pass. In analog printing, the plates are repeatedly replaced. Not only can a digital press - many of which are developed by well-known electronics names like HP, Konica Minolta, and Xerox - switch between an infinite number of different impressions without interruption; it will also print precisely the volume of each required, even down to a factor of just one. The most popular methods include inkjet or laser printers that deposit pigment or toner onto a wide variety of substrates - paper, board, plastic, canvas, glass, metal, marble and more. From postage stamps to building wraps, from labels to corrugated boxes, magazines to sign and display, there's very little to limit the scale and substrate possible. In many of the processes, the ink or toner does not permeate the substrate, as does conventional ink, but forms a thin layer on the surface that may be additionally adhered to the substrate by using a fuser fluid with heat process (toner) or UV curing process (ink). Depending on the quality required, this does impact the opacity of the inks, but as digital ink technology advances apace, this will become less of an issue. ON THE PLUS SIDE In a nutshell, benefits of digital printing include rapid set-up; minimal waste; reduced inventory; print on demand, increased speed to market... what is not to like? For brand owners wanting less SKUs in store for less time, but wanting more variety in products and creativity, they need agility. Digital print, by shortening speed-to-market times and allowing designers greater creative latitude, adds agility to the marketing equation. And importantly, it opens the door to deeper levels of consumer engagement through customisation and personalisation. Digital print is bringing brands and consumers closer together, as brands increasingly realise, as design guru Silas Amos puts it, "Packaging is media; it's a billboard. It's just a matter of rethinking what it can do when you can change it daily, and where content can be infinite." WHEN DOES IT PAY TO USE IT? Digital printing does not always make economic sense - it's not ideal for high volume runs where print elements are static. But it makes sense for short runs and where more changes of artwork are required. It's also good for piloting and test marketing. Here's one way of looking at it, according to Jason Beckley, Segment Manager Labels and Packaging, HP Australia: "While cost is of course a consideration, to obtain a true ROI you need to look at all factors in the process - supply chain, waste management, speed to market and most importantly, the consumer's wants and needs. A 'wow' campaign speaks volumes at the checkout. With the level of ROI tracking available, brands can quickly identify the success of a campaign, and where necessary make tweaks to the content almost immediately." The digital printing market is still in its infancy: only 5% of the world's total printing is done digitally.2. What is Digital Printing? The Importance of Digital Printing for a BusinessDigital Printing: Best Techniques For the Business of Companies For the business of companies, communication is one of the main elements to be known by potential customers and to beat the competition. Like for 3D printing and additive manufacturing, to improve your work (communication), there are online digital printing services that companies can use. Nowadays, in fact, the communication of the companies differs in the online one, which allows to reach a wider target of customers (such as users who use social networks), but also in the offline one (which cannot be neglected). In this sense, the press certainly has a role of primary importance especially to reach those potential customers who do not use electronic devices very often and do not often surf the Internet. The Importance of Printing for Companies So digital printing, is certainly among the best techniques to improve the business of companies when it comes to marketing and communication. When a company wants to make its products and services known, in addition to investing in online advertising, therefore, it must also invest in traditional advertising, that is, print-based advertising: flyers, brochures and other printed material. In this way the company's products and services will be advertised and promoted optimally thanks to written content and images (which are always impactful and immediate). The print media has always had the advantage, compared to the online one, of being more "lasting": think for example of the fact that a flyer can be kept and re-read when it is needed (unlike, instead, online advertising which often it consists of banners that disappear after a few seconds). Nowadays companies can count on the support of online sites for their digital prints. These sites are easy to use and the printouts required will arrive at the place of delivery in a few days. Among other advantages, there is what prints have inexpensive prices. Furthermore, in order to use these digital printing sites, there is no need for special graphic capabilities because often the creation software is very intuitive and easy to use and allows you to create flyers, brochures or anything else by mixing texts and images. The Benefits of Digital Printing for Companies When we talk about digital printing, therefore, we are referring to a technology which, through electronic procedures, sends digital files to the printer without using plates or matrices. With this type of printing, posters, postcards, brochures, business cards, catalogs, badges, flyers and much more can be made. As seen, the advantages of digital printing are both in economic terms and in terms of speed, given the deliveries that take place very quickly. The other advantages are: print quality (for color printing, colors are sharp and bright); possibility of printing on any type of paper or material (PVC, fabric, vinyl, etc.); possibility to print from a few pieces up to higher runs (ie very large quantities) without paying any start-up costs; possibility of printing even in very large formats (such as 200 140 or 50 70) without compromising the yield of images and colors. Finally, another advantage is that with digital printing you can create documents with "variable data": each sheet can be differentiated only in a small detail compared to the others.
What's next in Kodak's Bankruptcy Journey?
In the 16-month-plus marathon that has been Eastman Kodak Co.'s Chapter 11 bankruptcy, the company is nearing the final leg.The company has sold off or ended lines of business, shuttered numerous offices and ended the health care benefits it provided thousands of retirees.STORY: Kodak stock to be revoked in Chapter 11 emergenceMORE: Kodak pension head: 'Jobs are safe'And to wrap up its bankruptcy, Kodak is preparing to issue a whole new generation of stock with which to settle roughly $2.7 billion worth of unsecured claims and $375 million in second lien notes. Between now and the end of the third quarter of this year, Kodak will be busy getting U.S. Bankruptcy Court approval for its disclosure statement, pitching that reorganization plan to creditors, and trying to lasso enough "yes" votes on that plan to make it happen.Here are some questions and answers about Kodak's plan to emerge from bankruptcy.What happens to existing Kodak stock?Short answer, it goes the way of the dodo, the passenger pigeon and the stock of such companies as General Motors and Delta Airlines when they went bankrupt.In bankruptcy, some claims for money owed by the bankrupt company have higher priority than others. Paid first, for example, are the legal and accounting professionals representing the debtor. Then unpaid tax claims. "Then you come down to the more general unsecured claims - trade debt, anything a creditor owed money but can't look to a specific item of collateral," said Robert Rock, senior counsel with the bankruptcy practice at Albany law firm Tully Rinckey PLLC. "Below the unsecured creditors is the shareholders. Unsecured creditors may receive only pennies on the dollar (and) they are in the pecking order higher than equity. So what generally happens is the stockholders get wiped out and the stock is redistributed to the creditors."It's effectively a new company."Current shareholders "really have no credible argument that their shares have any reorganization value - value after those with superior claims, the creditors, can be paid in full," said John C. Ninfo II, retired U.S. bankruptcy judge for the Western District of New York. "Earlier in the case, before it all played out, they may have been able to at least make an argument, but the less-than-successful (imaging patent) sale was probably the end of any such argument."So bottom line, this is common where the pre-confirmation shareholders clearly have no reorganization value, and the debtor needs to issue new stock in the reorganized debtor to the creditors in order to sweeten the pot and hopefully gain their acceptance of the plan, and have ownership and governance for the reorganized public company."Not surprisingly, shares in Kodak's current stock plunged 76 percent Wednesday, closing at 9 cents, down 28 cents.What will that new Kodak stock be worth?During the first three months of 2013, Kodak shares averaged 20 cents apiece. With 271 million shares outstanding, that gave the company a market cap of about $54 million.Kodak will issue 40 million new shares to pay back its various creditors. So that market cap divided by 40 million means it wouldn't be unreasonable to expect Kodak shares to trade, at least initially, at around $1.35.What's left of Kodak?Kodak CEO Antonio M. Perez often points out that making film and printing are very similar - putting a thin spray onto a substance like paper or plastic. With Kodak exiting photography with the sale of its Personalized Imaging business, it will focus almost exclusively on various products and services for the printing industry.In its disclosure statement filed Tuesday with U.S. Bankruptcy Court, Kodak describes itself as "a trusted leader in conventional and digital technologies that serve the $720 billion commercial, packaging and functional printing market" and having "a compelling and unique combination of advantages." Those, according to Kodak, include its Stream high-speed inkjet printing technology found in its Prosper presses and its SquareSpot laser-writing tech. The company said its sweet spots competitively include its growing packaging printing business and the growth it's already seen of such printing technology platforms as Stream and Flexcel.According to Kodak, there are today more than 5,000 of its digital printing units - including everything from Prosper machines to Versamark, Digimaster and NexPress devices.And Kodak says its corporate R&D "will center on technology applications in printed electronics, fluidics, patterned deposition, and new materials."What's next?Kodak first needs to get its disclosure statement approved by U.S. Bankruptcy Court - a step that could come this June. Once the disclosure statement is approved, Kodak will mail it, the plan and a ballot to all creditors.That 182-page disclosure document is like a prospectus in a stock offering, though in this case the audience is creditors deciding on whether to "invest" in the new Kodak by allowing their claims to be traded for stock shares.In such disclosure statements, debtors emphasize that this is the best deal that a creditor can hope to receive, said Ingrid Palermo, an attorney with the bankruptcy practice group at Bond, Schoeneck & King. "That is why the disclosure statement has a liquidation analysis ... to show there is more value to creditors under the plan than if the debtor was to close up shop and liquidate. Debtors will also emphasize their value to a community, as an employer, a good community member (charitable contributions), maintaining the tax base, etc."How damaged is Kodak even if it comes out of bankruptcy?That remains to be seen. When Hostess Brands Inc. went under in late 2012, "All anybody cared about was, 'Where am I going to get my Twinkies?' The brand name, not hurt at all," Rock said. "Troy-Bilt, Cadillac, they're not damaged (by past bankruptcies). They're still popular. A Kodak product has always been viewed as a quality product."Company spokesman Christopher Veronda said Kodak "has long enjoyed excellent relationships with our valued suppliers. We appreciate their continuing and overwhelming support for Kodak during the Chapter 11 process, and we look forward to strengthening our partnerships with them in serving our customers as we emerge as a profitable and sustainable company."A bankruptcy filing can never be a good thing, said Steven Ross, chairman of the United Kingdom pension plan buying two Kodak business units. "(But) Kodak has a fantastic brand name, wonderful brand name. We have reserved rights to that brand name in perpetuity. That was essential for us."
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