ROCHESTER, N.Y. (UPI) — Struggling U.S. film giant Eastman Kodak Co. said it had a tentative $210 million offer for its document scanning business.
Brother Industries Ltd., a Japanese company, has made the cash offer that needs to be approved by the bankruptcy court before it can proceed, the Rochester (N.Y.) Democrat and Chronicle reported Monday.
The sale “is another key step in Kodak’s path to emergence, [taking] us closer to realizing our strategic vision for Kodak’s future,” said Kodak Chief Executive Officer Antonio Perez in a statement.
“A sale to Brother, should they prevail, would represent an excellent outcome for Document Imaging’s customers, partners and employees,” he said.
The deal would include Brother taking over the service contracts that Kodak has signed with customers, which represent a liability, the newspaper said.
Kodak employs 13,000 people worldwide, but did not say how many jobs would be affected by a sale of its document imaging business, which is mostly comprised of scanners.