LG Chem Wraps Up It’s Toner Business

The word on the street these past several months has been that LG Chemical plans to sell its toner production facility. Finally, that rumor has been confirmed. LG Chem formally advised its customers that it sold off all of its toner production facilities to Hubei Far East Zhuoyue Technology (www.ydzyjt.com), a toner producer and toner cartridge remanufacturer based in Hubei Province, China.

In a letter to customers, LG Chem wrote, “As we informed last May, we are going to discontinue the production of toner soon. Owing to your kind support, we can wrap it up without delay.”

LG Chem has encouraged its former customers to move forward and keep their successful, previous business relationship going with Far East Zhuoyue. Far East Zhuoyue was founded in 2007 with $10.5 million in equity, and was rapidly listed on the Tianjin Equity Exchange in 2011. LG Chem also expressed gratitude to its former customers for their support and cooperation over many years.

Industry analysts suggest the aggregating price pressure upon toner made the toner business less and less lucrative for LG Chem compared to its many diverse interests in other areas which are more profitable.