As the divestment of Schades and R+S Group has made progress, I am pleased to inform you that Harbour Investment, a German private held fund, has entered into a definitive agreement with Hansol Paper Co., Ltd. to acquire Schades and R+S Group from Hansol Paper Co., Ltd. The closing is expected to take place within one month.
As a result this transaction, Schades and R+S Group could fully focus on their businesses and will continue to lead EU markets for receipt paper roll and self-adhesive labels. Furthermore, this change will create significant opportunities and advantages for customers and suppliers.
Harbour Investment is committed to making a long-term investment in Schades and R+S Group and has decided to retain the current management of Schades and R+S Group with full power and authorities. The new owner will fully support Schades and R+S Group to grow further while ensuring continuous delivery of the best products and services. Schades and R+S Group will continue to operate under the same names and brands.
As the closing of this transaction is completed, I will inform you further and make it sure that Schades and R+S Group closely work with you during the transition period. Thank you.
Schades and R+S Group CEO
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