TOKYO -- Fujifilm Business Innovation, formerly known as Fuji Xerox, has agreed to sell its Shanghai-based unit to Chinese office equipment maker EVA Precision Industrial (Weihai) for 62 million yuan ($9.19 million).
Fujifilm Business Equipment Shanghai develops and produces mid- to low-speed printers and toner cartridges for the Chinese market. It employs about 900 people.
Fujifilm Business Innovation and EVA signed the deal on Tuesday, and the sale will be completed on Dec. 1. The transaction is designed to optimize production, and Fujifilm will source $298 million worth of equipment from Fujifilm Business Equipment Shanghai over three years following the sale.
The deal will not involve the transfer of technology. more here