Kodak is raising its prices beginning July 1, 2008 citing the soaring costs of key raw materials, especially silver and aluminum, as well as the rising cost of petroleum.
Kodak prices will increase by as much as 20%, and will vary by product and region. The company previously noted the impact of these raw material costs during a conference call with investors following announcement of its first-quarter results on May 1.
The venerable imaging company, founded in 1884, is struggling to fit in the digital age. Kodak shares dropped 19 cents to $15.32 at Friday’s trading in the New York Stock Exchange. It has lost 30 percent this year.