Japan’s Funai Electric announced that it repurchased the assets related to the activity of Lexmark inkjet printers. The latter had already indicated that it would stop this activity and looking for a buyer.
Last August, the US group Lexmark announced the holding of a vast restructuring plan. The proposed measure then led to the elimination of approximately 1,700 positions worldwide, including 1100 were directly involved in the production of inkjet products.
The main target of this restructuring was indeed the inkjet division. The latter would then simply be stopped and the production plant in the Philippines should be closed. These measures were then designed to bail out the Lexmark funds.
In this logic, Funai Electric announced that got hold of Lexmark’s assets relative to the inkjet printing technology. The two groups were partners since 1997 as the Japanese surrendered some of the material present in the printer group. Now, these assets include not only patents, the result of R & D in the United States but also all the local (staff, offices, factory) in the Philippines.
“The acquisition of technologies and assets allow Funai to begin our own business on the inkjet, not as a manufacturer of printing products […] Therefore, we believe it is possible to develop our business further and consistently , “the Japanese group in a statement . It also increases its assets and activities since had already made the purchase of the audio division, video and multimedia Philips .
Funai also explains that the cost of this transfer is 78 million euros. The transaction is expected to close during the first half.