Eastman Kodak Co. is selling an upstate New York water treatment facility to the Monroe County Water Authority for $9.5 million. Kodak expects to finalize the sale by the second quarter of 2009, reports the Rochester Business Journal.
The water facility services an industrial business park, and will continue to do so under an agreement with the county.
Kodak has agreed to purchase water for the park for the next 25 years.
Kodak will market the business park to clients based on the fact of “comprehensive existing infrastructure,” said David Stoklosa, Director of the business park, in the article.
The deal will provide economies of scale in the sense that the Monroe County Water Authority can operate both its existing Shoremont Plant and the Kodak plant for less than the two can operate them separately.
The Kodak plant has two intake pipes from Lake Ontario and an operating capacity of 50 million gallons a day, reports the Democrat & Chronicle.
The Shoremont plant has only one intake pipe but has the capacity to treat 140 million gallons a day.
Kodak, which has struggled with profitability, has been selling off a number of properties, including unused industrial buildings in the business park, as well as its organic light-emitting diode (OLED) business, according to the Democrat & Chronicle.