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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): September 13, 2004
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 September 13, 2004, Eastman Kodak Company committed to
plans to close the manufacturing operations and the wholesale
photofinishing lab in Coburg, Australia. Manufacturing
operations will cease November 26, 2004 and photofinishing
operations will cease October 22, 2004. These actions reflect
the Company's plan to deal effectively with the continued
worldwide volume decline in traditional photography products
driven by the increasing popularity of digital photography in
Australia and worldwide.
The manufacturing operations in Coburg, Australia comprise
photographic paper sensitizing and finishing, photographic
film finishing and photochemical manufacturing. These
operations will be consolidated, where necessary, into other
existing Kodak manufacturing facilities. Kodak will continue
to maintain a significant presence in the Australian consumer
and commercial market and will continue to offer a full range
of traditional and digital photographic goods and services.
As a result of these actions, the Company will incur
restructuring-related charges of approximately $105 million,
including accelerated depreciation on the equipment and
buildings (through November 26, 2004), employee severance
costs and other exit costs of approximately $60 million, $35
million and $10 million, respectively. In addition, the
Company will record approximately $5 million in other
operational charges. The estimated restructuring-related
charges exclude the potential impacts from any pension plan
settlement or curtailment gains or losses that may be
incurred, as these amounts are not currently determinable.
The severance, other exit costs and other operational charges
require the outlay of cash, while the accelerated depreciation
represents a non-cash charge.
These actions are a part of the Company's restructuring
program that was announced on January 22, 2004. The Company
expects that it will continue to consolidate its worldwide
manufacturing and overnight photofinishing operations in order
to eliminate excess capacity.
Copies of the September 16, 2004 press releases released in
Australia and the U.S. related to this action are attached as
Exhibits (99.1) and (99.2).
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
(99.1) Eastman Kodak Company Australian press release dated
16 September, 2004 regarding closure of Coburg,
Australia plant.
(99.2) Eastman Kodak Company U.S. press release dated
September 16, 2004 regarding closure of Coburg,
Australia plant.
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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: September 16, 2004
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EASTMAN KODAK COMPANY
INDEX TO EXHIBITS
Exhibit No.
(99.1) Eastman Kodak Company Australian press release dated
16 September, 2004.
(99.2) Eastman Kodak Company U.S. press release dated
September 16, 2004.