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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): August 22, 2005
Eastman Kodak Company
(Exact name of registrant as specified in its charter)
New Jersey 1-87 16-0417150
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
343 State Street,
Rochester, New York 14650
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (585) 724-4000
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Securities
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 2.05 Costs Associated with Exit or Disposal Activities
On August 22, 2005, Eastman Kodak Company committed to a plan to close
the manufacturing operations of Creo Inc. in Middleway, West Virginia.
This facility was included in the Company's recent acquisition of Creo
Inc. This action is the result of the product rationalization activities
that Kodak is undertaking related to the recent acquisitions of Kodak
Polychrome Graphics and Creo Inc.
In conjunction with this action, the Company will incur restructuring-
related charges of approximately $28 million. Included in these charges
is approximately $17 million of exit costs, including site disposition
and dismantlement, accelerated depreciation on equipment and buildings of
approximately $10 million, and employee termination benefits of
approximately $1 million. In addition, the Company will record
approximately $1 million in operating charges related to the execution of
this plan. The exit costs, severance and the operating charges require
the outlay of cash, while the accelerated depreciation represents a
non-cash charge. The manufacturing operations are expected to cease by
March 31, 2006. The site disposition and dismantlement are expected to
be completed by the end of 2007.
A copy of the August 22, 2005 press release related to these actions is
attached as Exhibit (99.1).
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibit
(99.1) Eastman Kodak Company press release dated August 22, 2005
regarding the closure of manufacturing operations in
Middleway, West Virginia.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
EASTMAN KODAK COMPANY
By: /s/ Richard G. Brown, Jr.
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Richard G. Brown, Jr.
Controller
Date: August 25, 2005
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EASTMAN KODAK COMPANY
INDEX TO EXHIBITS
Exhibit No.
(99.1) Eastman Kodak Company press release dated August 22, 2005
regarding the closure of manufacturing operations in Middleway,
West Virginia.