Just months after buying INTERNATIONAL PAPER CO.'s graphics arts film, plate and paper operations (see Japan-U.S. Business Report No. 342, March 1998, p. 5), KODAK POLYCHROME GRAPHICS CO. announced plans to close one of the acquired facilities. Production at the Binghamton, New York plant will stop at yearend, costing about 500 people their jobs. Its products duplicated output at original Kodak Polychrome factories. The Norwalk, Connecticut graphic arts materials manufacturer, formed last fall, is an equal partnership between the SUN CHEMICAL CORP. subsidiary of DAINIPPON INK & CHEMICALS, INC. and EASTMAN KODAK CO. (see Japan-U.S. Business Report No. 338, November 1997, p. 5).
An exchange rate of ¥140=$1.00 was used in this report.