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Kodak says it has exited bankruptcy

Kodak says it has exited bankruptcy
FILE - This Jan. 6, 2012 file photo shows a Kodak factory in Rochester, N.Y. On Tuesday, Aug. 20, 2013, a federal judge approved Kodak’s plan to emerge from bankruptcy protection. The ruling paves the way for the photography pioneer to emerge from court oversight as a new company focused on commercial and packaging printing. The company has said it hopes to emerge from bankruptcy protection on Sept. 3, 2013. (AP Photo/David Duprey)
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ROCHESTER, N.Y. (AP) — Kodak's trip through bankruptcy is now a memory for the scrapbook.

Kodak says it finished its restructuring and exited Chapter 11 on Tuesday.

The company says it's now a commercial imaging company serving business markets such as packaging and graphics. Chairman and CEO Antonio Perez says it's on track for profitable growth.

Kodak filed for bankruptcy protection last year, brought down by increasing competition, digital photography, and debt. Since then it has sold off many of its businesses and patents, while shutting down the camera manufacturing unit that made it famous.

It spun off its personal imaging and document imaging units to its pension plan.

Kodak says its old stock is canceled as of Tuesday. Creditors are getting shares in the reorganized company.
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