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South Korea’s Hansol Paper enters into share purchase agreement
Write 한솔제지 Date 2018-07-09

SEOUL, South Korea, 17 August 2015 (Press Release) -

Hansol Paper Co., Ltd. ("Hansol Paper"), Korea's largest paper manufacturing company, announced today that it has entered into a share purchase agreement to acquire all share capital of R+S Group GmbH ("R+S"), a thermal paper converting company in Germany. Although R+S is expected to remain a separate company after the closing, in order to achieve the operational efficiency, the current CEO of Schades (another thermal paper converting company based in Denmark which was acquired by Hansol Paper in 2013), Jun Park, will become the CEO of both R+S and Schades, and previous CEO of R+S, Marcel Bergmann, will be in charge of sales and marketing for both companies as the Chief Sales and Marketing Officer.

Mr. Sang-Hun Lee, the CEO of Hansol Paper, said, "The objective of this acquisition is to improve operational efficiency of our converting business in Europe through scale of economy and optimal product mix between Schades and R+S. With the newly acquired machines and facilities of R+S, we will make sure to achieve the operational excellence throughout our European business footprints and maximize synergies among them so that we can better serve our customers with more reliable products and services. "

Mr. Jun Park, CEO of R+S and Schades, said, "This acquisition will enable both companies to further strengthen their competitive positions and become a significant Pan-European group. We will focus on implementing a smooth transition to make sure that this acquisition will be beneficial for all parties including customers, suppliers, employees and shareholders."

After the acquisition of R+S, the entire thermal paper converting group at Hansol Paper (which includes Schades and Telrol) generates an annual turnover of approximately 170 million Euros, employs around 500 employees, converts over 1.4 billion square meters of paper annually and has offices in Germany, Denmark, the UK, Belgium, the Netherlands, France, Switzerland, Finland and Sweden.

About Hansol Paper

Hansol Paper is the largest subsidiary of the Hansol Group, which was spun out of the Samsung family in 1991. Having operated for 50 years, Hansol Paper is Korea's largest paper manufacturing company with annual revenue of USD 1.4 billion. Hansol Paper has made vast investments in plants and equipment and now has become a global leading thermal paper manufacturer.

Hansol Paper is capable of annually producing approximately 1.4 million tons of printing & writing paper, board paper and a variety of specialty paper as well as thermal paper. Exporting more than 50% of its products world-wide, Hansol Paper has successfully grown to become a global paper manufacturer. Its mid-term goal is to generate sales revenue of USD 2 billion by 2020 through differentiated products and services.

About R+S

Founded in 1948, the company is a family-owned business with its headquarter based in Sarstedt, Germany.

R+S converts and markets thermal paper for receipts, coupon and ticket applications as well as labels. Through successful investments in recent years, the company has realized around 30% annual revenue growth since 2009 and become the fastest growing thermal paper converter in the European market. R+S currently employs approximately 90 employees and posted a total turnover of 31 million Euros in 2014.

About Schades

The company was founded in 1916 in Skive, Denmark where it is still headquartered.

Schades converters thermal paper for its customers, including receipt paper rolls for cash registers and self-adhesive labels and enjoys a market-leading position in Europe and with a unique customer base including; retail, office stationery, distributors in food and non-food retail as well as logistics. During the past years, Schades has invested heavily in production facilities which, combined with a strong local presence in the major European markets, has enabled the company to successfully build competitive strength.

About Telrol

The Company was founded in 1995 and is headquartered in Almere, the Netherlands. The Telrol Group comprises of Peha Labels, BioLabel, HACCP Label, LMG Ribbons, Kolibri Labels and Q-Tronics, and is the market leader in the Benelux in self-adhesive labels. It serves the markets for food, retail, cosmetics, pharmaceuticals, home and personal care, logistics and the chemical industry.

Leveraging years of experience and an extensive range of converting machinery, the Telrol Group has the flexibility to succeed in its markets on a national and international level. The Telrol Group employs approximately 230 employees and features over 60 printing and converting machines.

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