Kodak Sells Flexo ( Cont’d from Page 1)
payments of up to $35 million over the period through 2020 based on achievement by the busi- ness of agreed-upon performance metrics; and (3) $15 million payable by Montagu to Kodak at the closing as a prepayment for various services and products to be provided by Kodak to the business post-closing pursuant to commercial agreements, subject to completion of certain pledge and collat- eral arrangements. The net proceeds from the transaction will be used by Kodak to reduce outstanding term debt.The com- pany expects that the remaining outstanding term debt will be refinanced and/or repaid using cash pro- ceeds from additional asset monetizations. The transaction is expected to close in the first half of 2019, subject to the receipt of required regulatory approvals and satisfaction of closing conditions. FLAG (Flexo Label Advantage Group LLC) has con- cluded its eighth annual meeting in Toledo, Ohio. For the first time, attendees numbered close to 100 at this networking and educational event. Held in conjunction with the Annual Meeting, FLAG distributed eight awards during the FLAG 2018 Awards Banquet.They were: • Lifetime Achievement Award : Andy Willie, Ex- ecutive Director Emeritus, Independent Carton Group and President of ICG. • FLAG Vendor Partner of the Year Award - 2018 : XEIKON. • Brad Brown Strategic Partner Award - 2018 : Molly Moroni, RotoMetrics. The long-term success of FLAG is based on engage- ment, involvement and purchasing at high levels from all members. In 2018, five member companies received Gold Awards for the highest level of pur- chasing from FLAG Vendor Partners.They are: Graph- ics Universal Inc., Greencastle Pennsylvania; TLF Graphics, Rochester, New York; Niagara Label Co., Inc., Akron, New York; Luminer Converting Group Inc., Lakewood, New Jersey; and Apogee Industries Inc.,West Chester, Pennsylvania At each FLAG Annual Meeting, a member company opens up the doors of its print shop and invites all of the attendees to tour its facility. Members place great value in seeing how a company of their similar size and scope implements processes and sets up their businesses for growth and efficiency.This year, FLAG visited Bollin Label in Toledo, Ohio. FLAG Holds 8th Annual Meeting
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