Chris Payne to lead reborn Kodak flexographic packaging division

Kodak has entered into a definitive agreement to sell its flexographic packaging division to the private equity firm. After closing, which is expected in the first half of 2019, the business will operate as a new standalone company which will develop, manufacture and sell flexographic products, including the flagship Kodak Flexcel NX System, to the package printing market.

Payne has served as president of the flexographic packaging division for the last three years and will lead the new company as CEO.

He said: ‘We are very pleased that Montagu will be supporting the ongoing growth of the business going forward and that our customers will continue to experience the same product, same people, and same trusted brand.

‘Under Montagu ownership, the company will have the focus, agility and resources to maintain a constant stream of innovation for our customers and continue the journey of transforming flexo into the premium print process of choice for packaging.’

The new business has now been confirmed as Miraclon.