Champion Chemtech Ltd. signed an agreement to acquire Eastman Kodak’s photochemical manufacturing facilities in Rochester, NY.Terms of the deal, which is expected to close next month, were not disclosed.
As part of the agreement, 150 employees currently working at the operation will transfer to a Champion-owned company. Champion will continue to manufacture photochemicals at the Rochester site.
Kodak is moving away from traditional film-based photography and concentrating more on digital, while Champion is focused on chemical manufacturing. Kodak is expected to continue to supply chemicals to customers in the U.S. and Canada from the Rochester location.