Technology firm Ionics, Inc. announced the closure of the manufacturing operation of its wholly-owned subsidiary, Iomni Precision, Inc., which is engaged in the manufacture and assembly of precision injection molded plastic products in Laguna.
Ionics informed the Philippine Stock Exchange on Monday, March 17, 2025, of the Board’s confirmation regarding the management’s decision to cease Iomni’s manufacturing operations effective May 15, 2025.
Ionics said the decision followed a lengthy review of the conditions affecting the plastic molding business. It, said that “cessation of manufacturing operations is not expected to have any significant impact on the financials of the group.”
It also added that the closure of the unit’s manufacturing operation will improve its overall financial performance moving forward.
Meantime, the Ionics Board also approved the declaration and distribution of a cash dividend of P0.10 per share to all stockholders of record as of March 28, 2025 with payment period of not later than April 25, 2025.
Iomni is engaged in the manufacture and assembly of precision injection molded plastic products in Calamba, Laguna. IOMNI was established to produce engineered plastic products involving a high degree of complexity and precision.
Ionics, the parent company, is a leading technology group of companies engaged in product design cum electronics manufacturing, precision-engineered plastic injection molding, core-technology venture capital investment, and property holdings and management.
