To its 96,000 stockholders Eastman Kodak Co. announced that it will spend a record $62 million this year to expand plants, add better equipment, improve processes, develop new products. From past experience Kodak expected positive results fast. Last year the company put $56 million into capital improvements; new products introduced during the year made up 40% of its amateur-photography sales. In all, Kodak has invested $500 million in capital improvements since 1945.
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