Kodak keeping CBRE in the big picture.CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. announced that Kodak has renewed a contract for CB Richard Ellis to continue as its North and Latin American real estate transaction management services provider. The agreement extends a 15-year relationship under which CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) oversees approximately 39 million square feet of Kodak properties throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , and Canada. This contract renewal is driven, in part, by Kodak's strategic plans to keep operational costs down in order to meet its corporate objectives of actively transforming from a film-based company to one aligned with digital imaging. It also underscores Kodak's confidence in CBRE's knowledge and understanding of Kodak's internal systems, processes, and long-term strategic plans. CBRE's Chicago-based Mark Pasquella and Gary Beban Gary Joseph Beban (born August 5, 1946 in Redwood City, California) is a former American football player. Son of an Italian-born mother and a first generation Croatian-American father, Beban won the 1967 Heisman Trophy, the most prestigious award in college football, and the in the firm's Global Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. will continue to lead the Kodak account. Mr. Pasquella has worked with Kodak since 1989, completing over 300 projects comprising 13.5 million square feet, worth an aggregate of $390 million. "More than ever in our company's transformation from a film-based company to a digital company, Kodak relies on its providers to help execute its plans as efficiently and effectively as possible," said Mee Wing, Vice President of Kodak Real Estate & Support Services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . "One of the key initiatives announced in early 2004 that supports this transformation is the global footprint reduction by one-third over three years. Over the past 14 years, CBRE has been, and will continue to be, a key strategic partner in helping Kodak maximize economic return on its real property portfolio and reduce occupancy costs." "Our long history with Kodak gives us the distinct advantage of having a thorough understanding of the company's business units and its internal financial and approval processes," said Mr. Pasquella. "Plus, we are privy to the objectives of the business units, well in advance of transaction stage. That leads to continuity and better performance with an emphasis on strategic solutions." According to Steve Swerdlow, President of Global Corporate Services. "It is a testament to Kodak's confidence in our business acumen that we are being retained to work with them, especially at a time when the entire photography industry is undergoing such massive technological changes." |
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