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FLEXO Magazine : April 2014
Clarke Named Kodak CEO ROCHESTER, NY—The Board of Direc- tors of Eastman Kodak Co. has elected Jeffrey J. Clarke as CEO and a member of its Board of Directors. “Jeff is the right person to lead Kodak forward. His combination of strengths and experience in technology, transfor- mation, finance, operations and interna- tional business is precisely what we set out to find in the next leader of Kodak,” said James V. Continenza, chairman of the board. “His past leadership posi- tions have included businesses selling hardware, software and services, and printing—with B2B customers as well as consumers.” Clarke, 52, said, “I have enormous respect for the people of Kodak and I am excited to join them in moving the company forward to new successes. This enterprise has some extraordinary opportunities, especially those pre- sented by the company ’s proprietary technology in commercial printing, packaging and functional printing. “My first priority is to spend my time listening to Kodak’s employees, custom- ers, partners and other stakeholders as part of a detailed evaluation of our operations, market opportunities and approach for success,” he continued. “Once that work is complete, I look forward to sharing our conclusions. ” Prior to joining Kodak, Clarke was a managing partner of Augusta Columbia Capital (ACC), a private investment firm focused on middle market technology and technology enabled businesses that he co founded in 2012. TC Transcontinental, Inc. Buys Capri Packaging MONTREAL, Canada—TC Transcon- tinental, Inc. will acquire Capri Pack- aging, a supplier of printed flexible packaging, located in Clinton, MO, at a price of $133 million. The transaction is subject to regulatory approval in the U.S . Capri Packaging is a division of Schreiber Foods, a $5 billion employee owned dairy company, located in Green Bay, WI. TC Transcontinental will be acquir- ing two facilities in Clinton, MO, which employ some 200 people, and generate approximately $72 million in annual revenues. Under terms of the deal, Schreiber Foods has signed a 10 year agreement to secure Capri Packaging as a strategic supplier of printed flexible packaging, which represents about 75 percent of Capri’s total revenues. “ T his acquisi- tion represents an important strate- gic move for the corporation into a new promising growth area,” said Francois Olivier, president and CEO of Transcon- tinental, Inc. “ It is part of our strategy to ensure our future growth path through diversification. Over the past year we evaluated various industries where we could leverage our manufacturing competency, a great success for us in the past. The printed flexible packaging industry was rapidly identified as a nat- ural fit given that the production process is very similar to TC Transcontinental’s printing operations and the market offers many opportunities for growth. We are very excited to partner with Sch- reiber Foods for the long term, which will provide us with a recurring revenue stream, and look forward to fostering our relationship over the coming years.” www.flexography.org APRIL 2014 FLEXO 15