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Kodak plans to seek buyer for Eastman Business Park

By  - 3/25/2014 10:59:07 AM

Eastman Kodak Co. Tuesday said it wants to find a buyer for Eastman Business Park, a 1,200-acre complex that ranks among the nation's largest industrial and technology parks.

The park has a growing tenant and owner base that now numbers more than 50 and employs some 4,700 workers. Kodak officials said its transformation into a multiuse, multitenant industrial facility would best continue with an owner focused on its redevelopment. A sale also would allow Kodak to keep its focus on its commercial imaging businesses.

“Eastman Business Park is already on the path to becoming a powerful economic growth engine for our region and a vibrant center of invention to several technology sectors," said Kodak CEO Jeffrey Clarke. "A strong new owner will expedite that process. At the same time, Kodak needs to focus on what it does best: innovating and delivering superior solutions to customers around the world. Selling EBP is the right move for the right reasons at the right time.”

In recent months, Gov. Andrew Cuomo has committed more than $90 million in state investments to attract new companies to Eastman Business Park. The state Department of Environmental Conservation and the the U.S. Environmental Protection Agency also have committed to moving ahead with an environmental trust administered by the state to address ongoing environmental protection and resolution of legacy environmental issues.

While pursuing a buyer for Eastman Business Park, Kodak has said it will maintain a significant presence at the site, including two new projects in collaboration with UniPixel and Kingsbury focused on production of films for touch screen sensors.

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