November 13, 2014
PBTI’s recently announced exit from remanufacturing looks to be encountering problems, as it is contacting trade creditors and trying to negotiate a 30 percent reduction in return for a prompt seven-day settlement.
According to documents seen by The Recycler, the PBTI supervisory board is contacting trade creditors to agree a settlement of old debts now that the sale has been concluded. Two suppliers contacted by The Recycler were unhappy with the offer, saying if they accept the offer they will lose money, and the offer was “an insult, as we have supported PBTI for several years, and to wait to get paid is bad enough, but then to be asked to take a 30 percent loss is wrong”.
PBTI responded to The Recycler’s request for comment, stating: “For over 30 years PBTI has enjoyed excellent relationships with its many global suppliers, serving the European market as a British producer and seller of remanufactured desktop office printer cartridges to dealers, distributor and OEMs.
“Now that we have exited this market, we intend to remain on good terms with our long-standing suppliers. Our payment and other arrangements with these suppliers will, of course, be private as they have always been.”
PBTI recently sold its remanufacturing business to Turbon, and the European remanufacturer will integrate PBTI’s remanufactured toner cartridge business into its European toner department. PBTI’s Xinia and private label customers were informed that “this change in ownership will not result in any change in the day-to-day business execution or service levels”.
Business will “continue to be executed from PBTI’s site at Haydon Wells” in the UK, including “system stock feeds and stock in channel automated information”, and customers will be assisted by the known sales team, with Turbon’s UK Sales Director Richard Lee and UK Key Account Manager Steve Hole supported by the Xinia customer service team.
The two companies also stated at the time that all PBTI customers “will get access to a significantly extended product range with many new products and services”, and that “all PBTI customers will be able to participate in Turbon’s UK-wide used cartridge collection programme” – inventories at the site in Haydon Wells “will be raised to enhance the already excellent delivery service PBTI is providing”.
Categories : World Focus