The Trump administration is giving a $765 million loan to Eastman Kodak — which has struggled in the age of digital photography — so the company can manufacture ingredients used in pharmaceuticals.
Adam Boehler, chief executive officer of U.S. International Development Finance Corporation , speaks at the White House in April.Stefani Reynolds/Bloomberg via Getty Images
. The DFC is working with the Defense Department to help find ways to rebuild the national stockpile of medical supplies depleted by the coronavirus pandemic, using manufacturing plants in the U.S. to reduce reliance on foreign factories. Boehler described Kodak as a"storied brand" with expertise in making chemicals for film that it can apply to making chemicals for pharmaceutical drugs. The company plans to retool plants in Rochester, N.Y., and St. Paul, Minn., for its new division. The loan, which will be secured by the company's assets and will include performance contracts, is still going through due diligence before it is finalized, the DFC said in a release.
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