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Eastman Kodak Co. made several big announcements Monday.
The company reported a first quarter profit of $283 million.
Referring to the company's chapter 11 bankruptcy, CEO Antonio Perez in a statement said that Kodak's "path to emergence is now clear."
Perez said Kodak will file its plan to emerge from Chapter 11 with the bankruptcy court on Tuesday.
Earlier Monday, Kodak announced a deal to sell its Personalized Imaging and Document Imaging businesses to its U.K. Pension Plan - its largest creditor.
If approved by a judge, the move would eliminate $2.8 billion in debt and would generate $650 million for Kodak.