[pure-silver] Re: Another one...
- From: "Dave Valvo" <dvalvo@xxxxxxxxxxxxxxxx>
- To: <pure-silver@xxxxxxxxxxxxx>
- Date: Fri, 10 Dec 2004 10:31:22 -0800
And Kodak recently sold their Marketing Education Center known as Riverwood.
Dave
----- Original Message -----
From: "Chris Fraser" <chris@xxxxxxxxx>
To: <pure-silver@xxxxxxxxxxxxx>
Sent: Friday, December 10, 2004 4:08 AM
Subject: [pure-silver] Another one...
> From the Toronto Star...
>
> Kodak Canada closing Toronto factory
> Restructuring claims 360 jobs
> Photography giant `adjusting capacity'
>
>
> STEVE ERWIN AND JOHN VALORZI
> CANADIAN PRESS
>
> Kodak Canada Inc. is shutting down its Toronto manufacturing plant next
> year, eliminating 360 jobs and capacity as the market swings away from
> traditional film to digital pictures.
>
> Kodak announced yesterday it will close the Toronto plant by mid-2005 as
> part of a three-year global restructuring by parent New York-based Eastman
> Kodak Co. to pare between 12,000 and 15,000 jobs and reduce a third of its
> operating space.
>
> Yesterday's cuts will still leave about 550 people at the Canadian
> subsidiary's headquarters, based in suburban Toronto, mainly in sales,
> marketing, service and customer support.
>
> Kodak Canada, established in 1899, employs about 1,400 people across
Canada.
>
> The Toronto plant is currently making several products based on
traditional
> film and photography, including microfilm and paper for inkjet printers.
> Like most of Kodak's factories, it can make all sorts of related products,
> and in the past has made photographic paper for consumer prints, film for
> motion pictures and X-ray film.
>
> But with so many of its factories sharing similar production capabilities,
> the company saw that it could shift Toronto's output to other sites,
making
> the Canadian plant redundant, Michael Ducey, president of Kodak Canada,
said
> in an interview.
>
> "It's a function of the industry shift and the rising popularity of
digital
> photography and the need for Kodak to balance its capacity and
requirements
> on the traditional side of the business," Ducey said.
>
> The layoffs in Toronto mostly involve shop-floor workers, as well as
support
> staff and office personnel, including employees who handled human
resources
> and finance roles at the plant.
>
> Similar layoffs and plant closings have been announced in recent months at
> Kodak operations in France, England, Spain, Norway, Switzerland and
> Australia, as well as in the United States at the company's fading
> manufacturing hub in Rochester, N.Y.
>
> "When it gets down to adjusting capacity, you have to look at it as a
global
> set of assets and make strategic decisions," Ducey said. There are no
> current plans to close sales branches in Montreal and Vancouver, or
Kodak's
> research and development centre in Prince Edward Island, he added.
>
> Kodak, which was opened for business in the United States in 1881 by
George
> Eastman, turned point-and-shoot photography into an overnight craze when
it
> came out with a $1 Brownie camera in 1900. By 1927, it held a virtual
> monopoly of the U.S. photographic industry.
>
> Decades later, the tough transition from analogue to digital photography
has
> forced Kodak to slash its payrolls. In January, when it employed nearly
> 64,000 people, Eastman Kodak announced plans to cut up to 15,000 jobs by
> 2007.
>
> In its most recent quarter, Eastman Kodak reported sharply higher
> third-quarter profits, helped by the sale of a remote-sensing business and
> gains in digital photography.
>
> The world's biggest film manufacturer earned $479 million (U.S.), or $1.67
a
> share, in the July-September period, up from $122 million, or 42 cents a
> share, a year ago. Helped by a weaker U.S. dollar, sales edged up 1 per
cent
> to about $3.4 billion.
>
> Sales of film, one-time-use cameras and other traditional products dropped
> by 20 per cent in the quarter, more steeply than expected, and Kodak said
> film-industry volume could decline as much as 20 per cent in 2005.
>
> The remote-sensing-systems unit, sold to ITT Industries Inc. in February,
> sprouted in the early 1900s when Kodak created the first reconnaissance
film
> for the U.S. military. In more recent times, its scientists developed
> precision optical components to capture extreme close-ups of soil and dust
> particles on the surface of Mars.
>
> Sales of all digital products in the third quarter jumped 39 per cent
while
> revenue from the traditional photo market fell 13 per cent.
>
>
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