Hansol Paper announced it had entered into a share purchase agreement to acquire the entire share capital of Germany's thermal paper converter R+S Group, according to Euwid. According to South Korea's paper manufacturer, the acquisition will optimise the product mix between Schades and R+S Group and improve operational efficiency of the group's converting business in Europé
Financial terms of the deal were not disclosed.
The proposed acquisition may further consolidate he thermal paper market in Europé, according to Euwid. In September 2013, Hansol Paper had acquired Schades, a Denmark-based company with a leading position in the markets for thermal paper products.
In a press release, Hansol Paper's CEO Sang-Hun Lee, says: "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".
