Seoul, Korea 13 September 2013 -- Schades believes that forming stronger ties with a paper supplier Hansol will benefit the company and its customers. Hansol to get a 25% share in thermal paper products market in Europe.
Korea's specialty Paper manufacturer Hansol Paper has acquired Denmark's thermal paper and seld-adhesive labels supplier Schades Group (Schades) from the Danish private equity fund Capidea.
According to a press release published by Capidea, Schades is a leading company on the European market for documentary paper rolls and self-adhesive labels for specialty applications. With the investment in Schades, Hansol is getting a 25% market share in Europe. Capidea did not reveal financial details of the detail.
"For a number of years, we have aimed to consolidate our position in Europe like we have already done in North America and Asia. With the acquisition of Schades, we can truly start to expand in the region," said Sanghun Lee, President and CEO of Hansol Paper.
Paper converter Schades is producing plain and printed paper rolls, self-adhesive labels and food wrapping products for food retail chains, non-food retailers, office stationery as well as financial institutions. The company is running production sites in Germany, Denmark, France and the UK and has sales offices in Belgium, Sweden and Finland. In 2012, Schades had sales of DKK634m (€85m) and employed approximately 200 employees.
Schades is convinced that it will benefit from the acquisition by Hansol as it will strengthen the existing supplier-customer relationship. "The difference between the Schades of yesterday and the Schades of tommorrow is that it will now be backed by a strong supplier/owner to the benefit of its customers", the company explained.