The deal is still awaiting the approval of the competition authorities in the United States and South Africa, although Kodak is confident that it will be finalised this summer.
The news comes hot on the heels of the announcement that Kodak GCG's European operations will be headed up by Creo veteran Israel Sandler.
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"Well done all involved... great to see the investment to increase the productivity in the same footprint- much more sustainable than popping another one up."
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