CEBU CITY — Japanese consumer electronics manufacturer Funai Electric Co. Ltd. has taken over the inkjet-related facilities and staff of Lexmark International (Philippines), Inc. in Mactan.
Information about the acquisition was relayed to the office of Mactan Economic Zone Administrator Sansaluna Pinagayao last month, less than a year after Lexmark announced it was going to shut down the Mactan plant and get out of the inkjet market by 2015 to focus on the high-value imaging and software businesses. Funai took over the Mactan plant on May 1, sources said. The Mactan plant, which occupies over three hectares at the privately developed Mactan Economic Zone 2, makes inkjet cartridges. At the time that Lexmark announced its planned closure, on Aug. 29 last year, the facility employed 1,100 workers. Funai, which has supplied inkjet hardware to Lexmark as an original equipment manufacturer (OEM) for 16 years, announced last April 2 that it had signed an agreement to acquire the inkjet-related technology and assets of Lexmark International, Inc. for about $100 million. A notice posted on its Web site said the assets to be transferred include more than 1,500 US- and foreign-based patents, inkjet-related research and development resources in the US, other inkjet technologies and assets, as well as all outstanding shares and the land, building, equipment and staff of Lexmark International (Philippines) in Mactan. The transaction, expected to be concluded by next month, will allow Funai to launch new inkjet hardware and supplies under its own brands, the company said in a statement. Funai will also continue to make inkjet supplies for Lexmark’s customers. The acquisition completes Lexmark’s exit from the inkjet business, although officials said the company will continue to provide technical and warranty support to its customers.
Notice: Images and logos is for illustration purposes only and not intended for patent infringement