Polychrome Corporation, a brainchild of Mr. Halpern, is now a major part of Kodak Co. and continues to live on. But the small company spirit died on Jan 1. 1998 when the company became a part of DIC-Kodak joint venture. This blog is dedicated to the memory of those who proudly call themselves "Polychromer". ..... Ken Shimazu shimazukenichi@gmail.com
Thursday, May 31, 2018
Additional memo from Mr. Gumbinner 26 Change of ownership
Through the years a number of companies tried to acquire Polychrome. Among them were Itek, Fairchild Semi- conductor and a company in Queens which made auxiliary equipment for photographic films. The owner may misunderstood Mr. Halpern and bought 11% of the Polychrome stock. He wanted to put a director on the board. Mr. Halpern rejected this and arranged for Rhone Polunec to buy this 11%. When Mr. Halpern was ready to sell Polychrome Rhone Polunec offered $22 a share. Mr. Halpern declined and Raymond Piccard. although representing Rhone Polunec, backed him. Mr. Piani did not vote. Polychrome was sold to Dai Nippon Ink and Chemical for $29 a share. Mr. Halpern pressured Mr. Gold, the financial vice president to resign. He appointed Henry Levy President,