The loan from the U.S. International Development Finance Corporation is the first of its kind under the Defense Production Act, officials said. Kodak is gearing up to produce ingredients for drugs including the antimalarial drug hydroxychloroquine, which President Donald Trump has supported in treatment for COVID-19, according to the JournalContinenza told the newspaper that the loan has terms similar to a commercial loan and must be repaid over 25 years.
“We have a long, long history in chemical and advanced materials — well over 100 years,” Continenza said. He added that Kodak’s existing infrastructure allows the company “to get up and running quickly.” The operation will build on Kodak's existing Specialty Chemicals Group, a segment that is dispersed across a three-building complex at Eastman Business Park, with multiple cells or bays that operate as its own chemical factory so that multiple processes can be run concurrently. That operation already is working with various markets, including pharmaceuticals. In company brochures, Kodak touts the 88 reactors, more than 25 centrifuges, filter and membrane presses.
The company, founded in Rochester in 1888, at its peak employed more than 145,000 people worldwide, including more than 60,000 locally-based workers. But in the past three decades, the world embraced digital imagery and abandoned film. The company has struggled to survive. The most recent figures, posted in late 2019, show that Kodak employs around 4,900 people worldwide.
MorganFeldman7 Fantastic👏👏👏
ThankYouGovCuomo
What next? Is Burger King going to begin performing surgeries? What kind of bullshit is this
Thought we had 60 million doses to unload.
How many Kodak shares are owned by Trump businesses or campaign donors?
Kodak giving a shit load of cash to do fuck all on the understanding that they launder it and pass some back. In other news support cheques for the unemployed drop from $600 to $200 dollars
How much stock does Trump own in Kodak?
Instead of using a company with pharmaceutical experience an old camera film company will make our medicines? Their management couldn't figure out digital. My mind is blown.
Did other failed companies get to bid for our money?
You gotta learn how to 'Investigate'. Kodak spun the Eastman Chemical Company off 20 years ago. If you bothered reading on the Kodak website, you would find that this loan is to HELP Kodak start a new company, named Kodak Pharmaceutical.
A great win for the American people to bring critical medical supply chains back to the USA! More jobs, safe mfg processes & not at the mercy of Communist China brought to you by the best President ever - Trump
Kodak stock tripled. Somebody made a killing on the market.
Trump is a drug addict
Once again Trump pushing something that doesn't work and that is dangerous
Is this the same Kodak that we used to take pictures before the smartphone came along ? So now Kodak is in the pharmaceutical Arena now? God help us all because we are officially in the Twilight Zone!😷😨😶
Does Kodak know about this?
Insane!
So this is what Trump's street preacher doctor was doing having an infomercial for.
I did not expect this.
Kodak the same ones who underestimated digital cameras and their impact in photography. Please!!
Wonderful news
Now we no why the administration & its cronies have been touting the non-remedy lately. It seems like a good move for Kodak with their expertise in fine chemicals production. I suspect they included hydroxychloroquine to woo Trump, with no real commitment to it.
How about allowing an existing drug company to do the research. Who has stock in Kodak?!?!?!? Trump, his family and his friends by chance?
This is crazy..... the drug that Trump keeps pushing has already been shown to not heal CoVid.
And Kodak will be sued out the ass for all the humans they harm. Smdh
Boring....
Better spent on bringing back Kodachrome
Kodak in the pharma business is like Gates in the vax biz.
Most likely their drugs will be kinda filmsy...
'Greatest fraud on the taxpayers'
Is trump paying out of pocket for that one, or charging the taxpayers?
Kodak WTF.
Why? It’s proven ineffective, no?
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Source: CNBC - 🏆 12. / 72 Read more »