Kodak Sells Flexographic Packaging Division

Eastman Kodak Company says it’s completed the sale of its Flexographic Packaging Division to Montagu Private Equity LLP.

The executive team has moved along with the company to form a new firm known as Miraclon. Kodak was paid $340 million, less the company’s debt which makes the final purchase price about $320 million. Kodak says it’s using the cash infusion to reduce its long-term debt.

Flexographic has been a major player in the package printing industry.

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