Word: kodak
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Itek's civilian sales are also looking up. Recently it introduced an office copying machine that, using Eastman Kodak patents, can make four offset printing plates a minute from almost any kind of original copy. Some 500 of the machines have been sold at prices...
...idea to found Itek-short for "information technology"-came in 1957 from two longtime friends who saw a future in air reconnaissance for arms control. The two: Richard Leghorn, then head of Kodak's European division; and Theodore Walkowicz, then and now an associate of Venture Capitalist Laurance Rockefeller. Walkowicz got the Rockefeller interests to put up $600,000 and became a director. Leghorn was chosen president...
When the 914 came out, there was already a host of smaller office copiers for sale. Evanston's American Photocopy Equipment Co. and Eastman Kodak Co. with its Verifax dominated the "wet copying'' field, which uses chemical developers; Minnesota Mining & Manufacturing Co. had its fast-selling Thermo-Fax, a dry method that uses heat from an infra-red lamp to form an image on specially coated papers. But the Xerox machine had a special appeal. It is a dry method that needs no chemicals, can duplicate anything from grease pencil to ballpoint pen, though it is more...
Counterattacking. There are also some things that Eastman Kodak would be happier not to have to talk about. Prime among them is monopoly; the company controls so much of the U.S. camera-and-film market (more than 40%) that the specter of the trustbusters always looms large. Then there is Polaroid, whose convenient "instant" photographs have caused something of a revolution in the camera industry. Dr. Edwin Land offered to sell his picture-in-a-minute system to Kodak in 1946, but Kodak's deliberative managers figured that the company was already too busy with seemingly surer projects, thought...
Outclassed by foreign camera makers and outresearched in one important area by Polaroid. Kodak is counterattacking by stressing its own low-cost convenience. Of course, admits President Vaughn, "holding prices down means cutting the finishing costs and the handwork on cameras.'' It also means invading the competitors' home grounds abroad, where Kodak sold more than $325 million in cameras and film last year and will invest $27½ million in capital expansion and modernization this year. "If you can get a Frenchman to drink Coca-Cola," says Vaughn optimistically, "it won't be long before...