Eastman Kodak

During the late 1800s, George Eastman established a camera and film company called Eastman Kodak in Rochester, which is located in the mid-western portion of New York State. For the next decade, Kodak grew its film business. At the pinnacle of its growth, Eastman Kodak held 90% of the share of photographic film in the United States. When the world switched to digital-based imagery, Eastman Kodak faced substantial competition. The company, however, managed to survive and is today still known throughout the world. Eastman Kodak continues to operate both its centers of operations and facilities in Rochester.

For people who live in Rochester, Eastman Kodak has served as a substantial source of job opportunities since the company began its operation. Unfortunately, however, for many years, Eastman Kodak placed asbestos in various places throughout Kodak Park as well as other facilities the company owned. As a result, many Rochester workers as well as Monroe County were exposed to asbestos and the risk of developing serious medical conditions including asbestosis, lung cancer, and mesothelioma.

To obtain compensation for the hardships brought on by mesothelioma or other illnesses caused by exposure to asbestos, workers at Eastman Kodak are able to pursue compensation through a trust claim if the person worked at various Kodak subsidiaries including AP Green, Combustion Engineering, G-1 Holdings, or Owens Corning.

The founder of Kodak Eastman was employed as a clerk at a bank during the late 1800s when he started learning about photography. In 1884, Eastman received a patent for the world’s first roll of film. By the 1900s, Eastman became a leading force in the industries involving film and cameras. Eastman’s technique of simplification and selling affordable camera equipment proved to be successful and generated a large demand for products that carried high margins including chemicals, film, and paper for photographs.

For a great deal of its life, Kodak appeared untouchable to its competitors. During the beginning of the 1980s, the first signs of instability began to appear in Kodak’s seemingly perfect business model.

Kodak’s rival, FujiFilm, started aggressively selling its cameras and films in markets outside the United States which led to undercutting Kodak on consumer prices and capturing a portion of the film market around the world. As the 1980s progressed, Kodak found itself unable to respond quickly to changing market conditions.

Instead of Kodak leading the market, Fuji began selling fast image-processing equipment, starting a new industry for developing photos in an hour that Kodak did not anticipate. By the mid-1900s, Kodak’s business started to substantially decline. During this time, digital technology grew substantially. In 2012, the company filed for Chapter 11 bankruptcy. As a term of its bankruptcy restructuring, Kodak was required to establish a trust to cover future personal injury settlements.

At the Throneberry Law Group, we are focused on helping people who were exposed to asbestos obtain the compensation they deserve. If you or a loved one was exposed to asbestos-containing products owned or manufactured by Eastman Kodak, you should obtain the assistance of an attorney who is committed to fighting for the compensation you deserve. Contact Throneberry Law Office today to schedule a free case evaluation.