NEWS AND NOTES
Polaroid: Sold for $265 Million
Polaroid has agreed to sell most of its assets, including most domestic assets and businesses in addition to common stock of its foreign subsidiaries to an investment group led by One Equity Partners, the private equity arm of Bank One Corp. The purchase of Polaroid's assets by One Equity Partners for the price of $265 million dollars is subject to Bankruptcy Court approval and other closing conditions, the Associated Press reported. The transaction could come as early as Q3 of this year, allowing Polaroid to emerge from Chapter 11.
Gary T. DiCamillo, Polaroid chairman and CEO said, "We continue to believe that the best way to maximize enterprise value for our creditors is by selling the company in its entirety as an independent, ongoing business to a strong buyer." One Equity Partners manages $3.5 billion of investments for Bank One, the sixth largest holding company in the U.S.
PTN will continue to update our readers as this story
Fotowire Announces Promotion With Logitech
"We are extremely pleased to be working with Logitech and its large consumer reach," said Patrick Serex, CEO of FotoWire, Inc. "Our partnership is a great testament to the continued growth potential of FotoWire's business and the increased consumer demand for online photo finishing needs. In addition, we are pleased to be able to offer our Preferred Partners the continued opportunity to expand their on-line photofinishing business."
For more information, visit Fotowire's website at www.fotowire.com.
Fifteen new products on display at PMA 2002 were awarded DIMA Innovative Digital Product Awards. The annual awards are chosen by the judges to be those that utilize new technologies and/or applications in such a way as to make the product unique. The companies honored for their innovative products are as follows:
- Adobe Systems Inc., for Photoshop v. 7.0.
- Applied Science Fiction, for their Digital PIC technology.
- Applied Science Fiction, for their Digital ROC software.
- Concord Camera Corp., for their Eye-Q IR digital camera.
- Durst Dice America, for the Durst Zeta Digital Laser Photo Printer.
- Eastman Kodak Co., for Kodak Professional Extended Range Imaging Technology.
- Eastman Kodak Co., for the Advantix EasyShare camera.
- Foveon, Inc., for the Foveon X3.
- Hi-Touch Imaging Technologies, for the D2T2 Photo Printer.
- Leica Camera Inc., for the Leica Digilux.
- Minolta Corp., for the Dimage X digital camera.
- Nikon Inc., for the D100 digital SLR.
- Phogenix Imaging, for the Phogenix DFX Digital Inkjet Minilab.
- Pixel Magic Imaging, for the Pixel Magic Megapixel Photostation.
- Sigma Corp., for the Sigma SD9.
Clark American Checks, Inc. is now offering My Style check designs that are personalized with the consumer's own photographs.
Consumers can either mail in a print with an order, or order
on-line and upload a digital image which will be printed as a black
and white image on the face of the checks.
U.S. Economy on the Rebound
The economy, which was affected by last year's recession and the terror attacks of September 11th grew in the first quarter of 2002. The economy soared with a seasonally adjusted growth rate (SAAR) of 5.8 percent, according to the U.S. Commerce department's latest Gross domestic product report.
According to the report, which was released last month, the recession is proving to have been one of the mildest in the history of the United States.
PEOPLE ON THE MOVE
Newsmakers at Noritsu
Doug VanderKolk has been appointed to the position of sales
representative for the Eastern Region of the U.S. for Noritsu
America. And Oscar Flores has been appointed as Noritsu's new
Pixology Announces Appointment of Gross
Pixology Ltd, has appointed Barbara Gross as U.S. OEM sales manager, based in Palo Alto, California. She will be responsible for expanding Pixology's OEM customer base within the US. Prior to Pixology, Gross worked for ScanSoft Inc./Xerox Imaging Systems.
Alkit Expands Executive Team
Two photo-industry veterans, Bob Jones and Alan Rosenberg, have been appointed to positions at Alkit Pro Camera, New York, NY.
Jones has rejoined Alkit as manager, Special Projects. He will
be responsible for improving efficiencies throughout the company,
identifying and managing the implementation of new systems and
Rosenberg has joined Alkit as account executive, focused on
bringing in new business as well as maintaining and growing
business from existing accounts.
Giovinco Named President at ELMO
Vincent J. Giovinco has been promoted to the position of president of ELMO Mgf. Corp. Giovinco will be responsible for directing the company's operations and activities relating to the company's line of electronic imaging products, security CCTV and industrial TV cameras and accessories. Michael Oguri, ELMO's president for the past five years has been named Chairman of the company.