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Epack Durable terminates joint venture with Bumjin Electronics, ending speaker manufacturing plans
05-Nov-2026, 06:31
Epack Durable Limited announced that its joint venture agreement with Bumjin Electronics Co., Limited of the Republic of Korea, dated July 24, 2025, has been terminated via a Termination Agreement executed on November 5, 2026. The original agreement was for the manufacturing and sale of TV speakers, soundbars, AI speakers, Bluetooth speakers, and smart speakers through Bumjin India Audio Products Private Limited, but Bumjin Korea did not subscribe to any shares of Bumjin India, and the joint venture did not proceed as initially planned; Epack Durable Limited will now undertake the strike-off of Bumjin India at its own cost, and the termination is not expected to have a material impact on the company's financials or operations.