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#1
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Press Release from Ilford
Sent to View Camera and CameraArts
ILFORD IMAGING USA INC OPEN FOR BUSINESS AS ILFORD RESTRUCTURES BUSINESS WORLDWIDE Paramus, NJ (August 25, 2004)-- The accounting firm Grant Thornton announced Monday the appointment of partners Mark Byers, Malcolm Shierson and Les Ross as joint administrators of our UK parent company Ilford Imaging Limited and joint administrative receivers of our UK affiliate Ilford Imaging UK Limited. The announcement pertains to those two UK companies alone. The Swiss business, including the ILFORD production facility in Marly, is solvent and continues to conduct business as usual. Similarly, Ilford Imaging USA Inc continues to do business as normal. "The US entity is operating in a business-as-usual fashion, and is continuing to accept and deliver on its orders as we evaluate how the changes at the UK companies might affect us", said Ward Phillips, President of ILFORD Imaging USA Inc. "We are taking every action and precaution to maintain ongoing operations with our customers. At the same time, behind the scenes, we will be working with our related companies in the ILFORD group to improve its performance and strengthen the outlook for the future", Phillips further stated. The ILFORD group was founded in 1879 in the UK, and more recently it has developed into the world’s leading supplier of dyes for inkjet photo printers and is the second largest manufacturer of inkjet photo paper. ### |
#3
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Thanks for that Steve; I still am happy I spent the money on the film,
you never know and its as good as time as any to stand behind the products we enjoy and show some support to these companies. Like I said 5 years worth of film can relatively easily be used without over extending oneself. In article , (Largformat) wrote: Sent to View Camera and CameraArts ILFORD IMAGING USA INC OPEN FOR BUSINESS AS ILFORD RESTRUCTURES BUSINESS WORLDWIDE Paramus, NJ (August 25, 2004)-- The accounting firm Grant Thornton announced Monday the appointment of partners Mark Byers, Malcolm Shierson and Les Ross as joint administrators of our UK parent company Ilford Imaging Limited and joint administrative receivers of our UK affiliate Ilford Imaging UK Limited. The announcement pertains to those two UK companies alone. The Swiss business, including the ILFORD production facility in Marly, is solvent and continues to conduct business as usual. Similarly, Ilford Imaging USA Inc continues to do business as normal. "The US entity is operating in a business-as-usual fashion, and is continuing to accept and deliver on its orders as we evaluate how the changes at the UK companies might affect us", said Ward Phillips, President of ILFORD Imaging USA Inc. "We are taking every action and precaution to maintain ongoing operations with our customers. At the same time, behind the scenes, we will be working with our related companies in the ILFORD group to improve its performance and strengthen the outlook for the future", Phillips further stated. The ILFORD group was founded in 1879 in the UK, and more recently it has developed into the world’s leading supplier of dyes for inkjet photo printers and is the second largest manufacturer of inkjet photo paper. ### -- LF Website @ http://members.verizon.net/~gregoryblank "To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public."--Theodore Roosevelt, May 7, 1918 |
#4
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"Largformat" wrote in message ... Sent to View Camera and CameraArts ILFORD IMAGING USA INC OPEN FOR BUSINESS AS ILFORD RESTRUCTURES BUSINESS WORLDWIDE Paramus, NJ (August 25, 2004)-- The accounting firm Grant Thornton announced Monday the appointment of partners Mark Byers, Malcolm Shierson and Les Ross as joint administrators of our UK parent company Ilford Imaging Limited and joint administrative receivers of our UK affiliate Ilford Imaging UK Limited. The announcement pertains to those two UK companies alone. The Swiss business, including the ILFORD production facility in Marly, is solvent and continues to conduct business as usual. Similarly, Ilford Imaging USA Inc continues to do business as normal. "The US entity is operating in a business-as-usual fashion, and is continuing to accept and deliver on its orders as we evaluate how the changes at the UK companies might affect us", said Ward Phillips, President of ILFORD Imaging USA Inc. "We are taking every action and precaution to maintain ongoing operations with our customers. At the same time, behind the scenes, we will be working with our related companies in the ILFORD group to improve its performance and strengthen the outlook for the future", Phillips further stated. The ILFORD group was founded in 1879 in the UK, and more recently it has developed into the world's leading supplier of dyes for inkjet photo printers and is the second largest manufacturer of inkjet photo paper. ### It is very difficult to know how to interpret this. AFAIK, all of Ilford's photographic products except Ilfochrome, are made at Moberly. I am sure they are making money on digital printing supplies so they will want to continue that business, but it doesn't look good for photographic products. The press release _could_ be interpreted as meaning they want to stay in the photographic products business if they can find a way to make it pay, or it may mean they are preparing to junk it very soon. Not so good. -- --- Richard Knoppow Los Angeles, CA, USA |
#5
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"Largformat" wrote in message ... Sent to View Camera and CameraArts ILFORD IMAGING USA INC OPEN FOR BUSINESS AS ILFORD RESTRUCTURES BUSINESS WORLDWIDE Paramus, NJ (August 25, 2004)-- The accounting firm Grant Thornton announced Monday the appointment of partners Mark Byers, Malcolm Shierson and Les Ross as joint administrators of our UK parent company Ilford Imaging Limited and joint administrative receivers of our UK affiliate Ilford Imaging UK Limited. The announcement pertains to those two UK companies alone. The Swiss business, including the ILFORD production facility in Marly, is solvent and continues to conduct business as usual. Similarly, Ilford Imaging USA Inc continues to do business as normal. "The US entity is operating in a business-as-usual fashion, and is continuing to accept and deliver on its orders as we evaluate how the changes at the UK companies might affect us", said Ward Phillips, President of ILFORD Imaging USA Inc. "We are taking every action and precaution to maintain ongoing operations with our customers. At the same time, behind the scenes, we will be working with our related companies in the ILFORD group to improve its performance and strengthen the outlook for the future", Phillips further stated. The ILFORD group was founded in 1879 in the UK, and more recently it has developed into the world's leading supplier of dyes for inkjet photo printers and is the second largest manufacturer of inkjet photo paper. ### It is very difficult to know how to interpret this. AFAIK, all of Ilford's photographic products except Ilfochrome, are made at Moberly. I am sure they are making money on digital printing supplies so they will want to continue that business, but it doesn't look good for photographic products. The press release _could_ be interpreted as meaning they want to stay in the photographic products business if they can find a way to make it pay, or it may mean they are preparing to junk it very soon. Not so good. -- --- Richard Knoppow Los Angeles, CA, USA |
#6
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On Thu, 26 Aug 2004 00:35:14 -0700, "Richard Knoppow"
wrote: "Largformat" wrote in message ... Sent to View Camera and CameraArts ILFORD IMAGING USA INC OPEN FOR BUSINESS AS ILFORD RESTRUCTURES BUSINESS WORLDWIDE Paramus, NJ (August 25, 2004)-- The accounting firm Grant Thornton announced Monday the appointment of partners Mark Byers, Malcolm Shierson and Les Ross as joint administrators of our UK parent company Ilford Imaging Limited and joint administrative receivers of our UK affiliate Ilford Imaging UK Limited. The announcement pertains to those two UK companies alone. The Swiss business, including the ILFORD production facility in Marly, is solvent and continues to conduct business as usual. Similarly, Ilford Imaging USA Inc continues to do business as normal. "The US entity is operating in a business-as-usual fashion, and is continuing to accept and deliver on its orders as we evaluate how the changes at the UK companies might affect us", said Ward Phillips, President of ILFORD Imaging USA Inc. "We are taking every action and precaution to maintain ongoing operations with our customers. At the same time, behind the scenes, we will be working with our related companies in the ILFORD group to improve its performance and strengthen the outlook for the future", Phillips further stated. The ILFORD group was founded in 1879 in the UK, and more recently it has developed into the world's leading supplier of dyes for inkjet photo printers and is the second largest manufacturer of inkjet photo paper. ### It is very difficult to know how to interpret this. AFAIK, all of Ilford's photographic products except Ilfochrome, are made at Moberly. I am sure they are making money on digital printing supplies so they will want to continue that business, but it doesn't look good for photographic products. The press release _could_ be interpreted as meaning they want to stay in the photographic products business if they can find a way to make it pay, or it may mean they are preparing to junk it very soon. Not so good. I imagine one of the first things they will do is look at the contribution margin of each line. I would imagine that if there are going to be eliminations in the film and processing chemical lines it will become public very quickly. |
#7
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On Thu, 26 Aug 2004 00:35:14 -0700, "Richard Knoppow"
wrote: "Largformat" wrote in message ... Sent to View Camera and CameraArts ILFORD IMAGING USA INC OPEN FOR BUSINESS AS ILFORD RESTRUCTURES BUSINESS WORLDWIDE Paramus, NJ (August 25, 2004)-- The accounting firm Grant Thornton announced Monday the appointment of partners Mark Byers, Malcolm Shierson and Les Ross as joint administrators of our UK parent company Ilford Imaging Limited and joint administrative receivers of our UK affiliate Ilford Imaging UK Limited. The announcement pertains to those two UK companies alone. The Swiss business, including the ILFORD production facility in Marly, is solvent and continues to conduct business as usual. Similarly, Ilford Imaging USA Inc continues to do business as normal. "The US entity is operating in a business-as-usual fashion, and is continuing to accept and deliver on its orders as we evaluate how the changes at the UK companies might affect us", said Ward Phillips, President of ILFORD Imaging USA Inc. "We are taking every action and precaution to maintain ongoing operations with our customers. At the same time, behind the scenes, we will be working with our related companies in the ILFORD group to improve its performance and strengthen the outlook for the future", Phillips further stated. The ILFORD group was founded in 1879 in the UK, and more recently it has developed into the world's leading supplier of dyes for inkjet photo printers and is the second largest manufacturer of inkjet photo paper. ### It is very difficult to know how to interpret this. AFAIK, all of Ilford's photographic products except Ilfochrome, are made at Moberly. I am sure they are making money on digital printing supplies so they will want to continue that business, but it doesn't look good for photographic products. The press release _could_ be interpreted as meaning they want to stay in the photographic products business if they can find a way to make it pay, or it may mean they are preparing to junk it very soon. Not so good. I imagine one of the first things they will do is look at the contribution margin of each line. I would imagine that if there are going to be eliminations in the film and processing chemical lines it will become public very quickly. |
#8
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Gee Ron; You at least you could clip the part everyone and their mother
has read, so we don't have to scroll all the way down the page to read a four line response at the bottom that most of us have already surmised. Thx In article , Ron Todd wrote: I imagine one of the first things they will do is look at the contribution margin of each line. I would imagine that if there are going to be eliminations in the film and processing chemical lines it will become public very quickly. |
#9
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Gee Ron; You at least you could clip the part everyone and their mother
has read, so we don't have to scroll all the way down the page to read a four line response at the bottom that most of us have already surmised. Thx In article , Ron Todd wrote: I imagine one of the first things they will do is look at the contribution margin of each line. I would imagine that if there are going to be eliminations in the film and processing chemical lines it will become public very quickly. |
#10
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On Fri, 27 Aug 2004 01:42:54 GMT, A Concerned Contributer
wrote: Gee Ron; You at least you could clip the part everyone and their mother has read, so we don't have to scroll all the way down the page to read a four line response at the bottom that most of us have already surmised. Thx In article , Ron Todd wrote: I imagine one of the first things they will do is look at the contribution margin of each line. I would imagine that if there are going to be eliminations in the film and processing chemical lines it will become public very quickly. Yes, but .... contribution margin is different than "making it pay" and is more relevant to a company in receivership. From the accounting / finance view, the Agfa situation is more interesting at this point in time. As I understand that one, AG is going to write off half a billion US$ on their balance sheet for the Consumer Imaging group and then give an effectively non recourse loan (its secured by the equipment their selling ) to fund associated people ( non arms length transaction ) to buy it. |
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