Subject: Re: Kodak Hikes Prices for Photographic Paper
Dave the Guy wrote:
> ROCHESTER, N.Y. (AP) -- Eastman Kodak Co. is raising prices for
> photographic paper this summer to offset a steady rise in the cost of
> raw materials, including pulp, silver and petrochemicals.
> Kodak, which is in the midst of a mammoth digital overhaul, said Monday
> that the price hikes will take effect in July, varying from around 4
> percent to 10 percent across a wide range of silver halide-based paper
> made for both consumer and professional markets.
> ''Over the past several years, Kodak has been absorbing unrelenting
> increases in the costs of raw materials,'' the company said in a
> ''Other costs tied to the escalating price of energy, including
> transportation and packaging, also have increased,'' it said. ''These
> pressures have reached the point where they can no longer be offset by
> Kodak's ongoing productivity programs.''
> The company has racked up $2.2 billion in restructuring costs since
> January 2004. It reported a $298 million loss in the first quarter --
> its sixth straight quarterly loss.
> Kodak shares fell 35 cents, or 1.5 percent, to $23.51 in morning
> trading on the New York Stock Exchange.
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