May 19, 2020
Malaysian Parent company Jadi Imaging Holdings Berhad (Jadi) announced that, Jadi Imaging Solutions (UK) Limited (Jadi UK) has ceased its operations on 27th April 2020 and is in the process of being winding down the business.
Jadi said: “The cessation was affected based on the Board’s decision as part of the Company’s restructuring to maximize cost efficiency. All existing and future distribution in the United Kingdom and European markets will be served directly by Jadi Imaging Technologies Sdn Bhd from hereon.”
Chris Rouse, the former general manager at Jadi UK said “It was a pleasure working with Jadi, they were good employers, I enjoyed my time very much with them. I am looking forward to connecting up with my industry friends and colleagues in a new role very soon.”
In August 2018 announced it was set to dispose of its loss-making Chinese subsidiary Jadi Suzhou for RM20.3 million ($4.95 million/€4.34 million).
The disposal will include land measuring 191,502 square feet in Suzhou, China. The company has said that the disposal will allow it to “deconsolidate a loss-making business entity” and is part of a wider strategy to focus particularly on the manufacture and sale of resin toners.
“This will enable the group to better utilise its resources to generate profit and at the same time, eliminate further potential losses which might be incurred by Jadi Suzhou,” said Jadi in its filing. “The property’s divestiture will also allow the group to unlock and realise the value of the property and provide it with the additional resources to invest and grow its existing businesses.”
In August 2019 the company announced that Static Control Holdings Limited (SCC) purchased ten percent of the shares in Jadi. At the same time Jadi entered into a three year Supply Agreement that commenced on the 1 April 2020 whereby SCC, Ninestar Corporation or any of its subsidiary companies will purchase a committed tonnage of chemical toners per annum from Jadi.
According to the announcement the Proposed Agreement marks a synergistic collaboration between Jadi, an established manufacturer of high quality toners and Ninestar Group, one of the global market leaders in the manufacture and distribution of printing and imaging products. The Proposed Subscription will provide Jadi with the funds necessary to support the expansion of its manufacturing facilities as well as an access to a larger market, whilst Ninestar Group will be able to leverage on Jadi’s R&D and manufacturing capabilities of toners.
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