Kodak to Increase Prices for Consumer & Professional Photographic Papers and Processing Chemistry
Increasing Raw Material Costs Lead to Price Action
Press Release, Eastman Kodak Company
ROCHESTER, N.Y.–(BUSINESS WIRE)–May 22, 2006–Eastman Kodak Company announced today that it will increase prices on its range of consumer and professional silver halide-based photographic papers and processing chemistry on a worldwide basis.
Specifics will vary on a product-by-product and market-by-market basis with most prices increasing between 4% and 10%. Certain products and markets will see higher price increases.
Over the past several years, Kodak has been absorbing unrelenting increases in the costs of raw materials used to manufacture photographic paper and chemistry, including pulp, silver and petrochemicals. Other costs tied to the escalating price of energy – including transportation and packaging – also have increased. These pressures have reached the point where they can no longer be offset by Kodak’s ongoing productivity programs.
Kodak remains committed to its retail, commercial and professional customers for paper and chemistry and anticipates ample inventory to meet demand.
In most countries, the price increase is effective with orders shipped on or after July 1.
About Eastman Kodak Company
Kodak is the world’s foremost imaging innovator, providing leading products and services to the photographic, graphic communications and healthcare markets. With sales of $14.3 billion in 2005, the company is committed to a digitally oriented growth strategy focused on helping people better use meaningful images and information in their life and work. Consumers use Kodak’s system of digital and traditional image capture products and services to take, print and share their pictures anytime, anywhere; Businesses effectively communicate with customers worldwide using Kodak solutions for prepress, conventional and digital printing and document imaging; Creative Professionals rely on Kodak technology to uniquely tell their story through moving or still images; and leading Healthcare organizations rely on Kodak’s innovative products, services and customized workflow solutions to help improve patient care and maximize efficiency and information sharing within and across their enterprise.
More information about Kodak (NYSE: EK – News) is available at www.kodak.com.
Eastman Kodak Company
Charles S. Smith, 585-350-5513
Source: Eastman Kodak Company