Business Wire

Hansol Paper and Iconex Announce Mutual Decision to Withdraw from Agreement Governing Sale of Schades and R+S to Iconex

Share

Iconex and Hansol Paper announced today that the companies are withdrawing from their definitive agreement signed November 2, 2018, under which Iconex would have acquired Schades and R+S from Hansol Paper. This decision, reached by mutual agreement between the parties, is due to the ruling of The United Kingdom’s Competition and Markets Authority (CMA) to move the approval process for this transaction to Phase 2. This allows the UK CMA an additional six months to reach a decision, which was deemed to be too long of a delay by both parties.

The parties believe that the proposed transaction met the relevant legal criteria for approval in the UK, and that it was in the best interests of our customers, employees and the marketplace in the United Kingdom and beyond. This UK CMA decision was unexpected by both parties given that the European Commission cleared the deal earlier this spring. Like elsewhere in Europe, the UK market is highly competitive with a significant number of players.

“The quality of the Schades and R+S asset base is outstanding, and the combination of these companies would have been a ‘win-win’ for our customers, associates and the market, more broadly,” said Craig Gunckel, chief executive officer of Iconex. “While this is a disappointing outcome, we appreciate the significant efforts of all those who worked tirelessly on this project.”

“Hansol has continued confidence in our Schades and R+S businesses and with the strength of Hansol Paper and our European Label converting businesses, Telrol and Kolibri, we continue to be the market leader for receipts and label solutions in Europe,” said Sang Hun Lee, CEO of Hansol.

###

About Iconex

Iconex is the leading low-cost provider of paper receipt and differentiated label solutions essential to daily commerce. A tradition of innovation dating back to 1887 is woven into the fabric of Iconex’s identity beginning with the company’s invention of the paper receipt, which revolutionized business transactions. Most recently, Iconex transformed the industry with the introduction of its Sticky Media®, a product that has enabled the Quick Service Restaurant industry to streamline operations, leading to an improved customer experience. For more information, please visit www.iconex.com. Iconex and Iconex Sticky Media® are trademarks of Iconex, LLC in the United States and other countries. All other trademarks and/or registered trademarks are property of their respective owners.

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 53 years, Hansol Paper is Korea’s largest paper manufacturing company with annual revenue of USD 1.6 billion. Hansol Paper has made vast investments in plants and equipment, establishing itself as a leading global thermal paper manufacturer.

Contact information

Press Contact
Louis Wilson
lwilson@mercuryllc.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Gilead to Present New Data on HIV Prevention, Treatment and Cure Research at IAS 201918.7.2019 12:30:00 CESTPress release

Gilead Sciences, Inc. (NASDAQ: GILD) today announced that new data from the company’s HIV research and development programs will be presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City from July 21-24. Fifteen abstracts, along with community-focused symposia and workshops, reflect Gilead’s ongoing commitment to scientific innovation, a key pillar to addressing unmet and evolving medical needs in HIV. “Gilead’s scientific discovery has helped transform both HIV treatment and prevention and we are committed to advancing the next generation of therapies to improve the care of people and communities impacted by this disease,” said John McHutchison, AO, MD, Chief Scientific Officer, Head of Research & Development, Gilead Sciences. “Our data at this year’s meeting include exciting progress in our HIV prevention, treatment and cure programs, which together are helping to advance the field of HIV toward the ultimate goal of ending the

Boehringer Ingelheim Expands Idiopathic Pulmonary Fibrosis (IPF) Pipeline Through Collaboration and License Agreement with Bridge Biotherapeutics18.7.2019 12:00:00 CESTPress release

Boehringer Ingelheim and Bridge Biotherapeutics Inc. today announced that they are entering into a new collaboration and license agreement with the goal of developing Bridge Biotherapeutics’s autotaxin inhibitor BBT-877 for patients with fibrosing interstitial lung diseases, including IPF. BBT-877 is currently in Phase I clinical studies and is anticipated to enter Phase II testing within the next 12 months. Both companies will initially focus on developing the compound for the treatment of IPF, an area of high-unmet medical need and one of the key focus areas of Boehringer Ingelheim. Boehringer Ingelheim has developed OFEV® (nintedanib), an antifibrotic drug shown to slow disease progression by reducing lung function decline and currently approved for the treatment of IPF in more than 70 countries around the world including the US, the EU and Japan. IPF is a rare, debilitating and fatal lung disease affecting approximately three million people worldwide. It causes progressive scarring

Quotient Sciences to Recapitalize With Global Private Equity Firm Permira18.7.2019 12:00:00 CESTPress release

Quotient Sciences and global investment firm Permira today announced that a company backed by the Permira Funds has signed a definitive agreement to acquire a majority stake in Quotient from companies controlled by GHO Capital and other investors for an undisclosed sum. The investment provides substantial new funding to fuel the next stage of Quotient’s growth. Chief Executive Officer Mark Egerton and the management team will continue to lead Quotient. Quotient Sciences has brought innovation to the pharmaceutical services sector through its unique Translational Pharmaceutics® platform, which is proven to accelerate development timelines, reduce development costs, and drive improvement in R&D productivity. The business has experienced substantial growth over recent years and generates annual revenues in excess of £100 million. “We are delighted to partner with Permira to drive Quotient through our continued evolution,” said Mark Egerton, Ph.D., Chief Executive Officer of Quotient Scien

SAMWHA ELECTRIC, a Manufacturer of Electrolytic Capacitor, Strengthens Global Business to Become the Digital Best Company18.7.2019 12:00:00 CESTPress release

SAMWHA ELECTRIC (KRX:009470), a manufacturer specialized in electrolytic capacitors, is enhancing its global business by focusing on R&D and marketing to meet customers’ needs worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190718005034/en/ SAMWHA ELECTRIC (KRX:009470), a manufacturer specialized in electrolytic capacitors, is enhancing its global business by developing electrolytic capacitors and Green-Cap (EDLC) which are essential to various industries including information technology, 5G telecommunication, eco-friendly cars, medical devices, LED, robots, IoT, wind power, solar power and ESS. In particular, it launched conductive polymer hybrid electrolytic capacitors for automotive electronics and 5G communication devices as 150℃ products with high reliability are needed in both industries. Products and solutions by SAMWHA ELECTRIC (Graphic: Business Wire) In tandem with increasing needs of high-value eco-frien

SimpleCommands Introduces Voice Clips with support for Sonos Speakers, including Ikea Symfonisk speakers18.7.2019 09:11:00 CESTPress release

Today, SimpleCommands announced the newest addition to the kloee platform, Voice Clips—including support for Sonos Speakers and Ikea Symfonisk speakers as well as other locally connected audio devices. SimpleCommands Voice Clips are short human voice audio clips that you can create on demand with the SimpleCommands app or web dashboard. With SimpleCommands you can control and automate many of the most popular smart home services and products and integrate them with SimpleCommands Voice Clips. Supported Voice Clip devices include: Sonos One, Sonos Beam, Sonos 5 (gen 2) and Ikea Symfonisk speakers. “Since we launched SimpleCommands, customers have told us they love getting a notification when their schedule or other automated routine executes. It’s nice to know which specific smart-cam saw a person or when a young driver arrives at their destination. Maybe you just want a daily voice reminder that lets your kids know that it is homework time. You can also build Voice Clips that will prom

Samsung Begins Mass Production of Industry’s First 12Gb LPDDR5 Mobile DRAM for Premium Smartphones18.7.2019 09:00:00 CESTPress release

Samsung Electronics Co., Ltd., the world leader in advanced memory technology, today announced that it has begun mass producing the industry’s first 12-gigabit (Gb) LPDDR5 mobile DRAM, which has been optimized for enabling 5G and AI features in future smartphones. The new mobile memory comes just five months after announcing mass production of the 12GB LPDDR4X, further reinforcing the company’s premium memory lineup. Samsung also plans to start mass producing 12-gigabyte (GB) LPDDR5 packages later this month, each combining eight of the 12Gb chips, in line with growing demand for higher smartphone performance and capacity from premium smartphone manufacturers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190718005257/en/ Samsung 12Gb LPDDR5 (Photo: Business Wire) “With mass production of the 12Gb LPDDR5 built on Samsung’s latest second-generation 10-nanometer (nm) class process, we are thrilled to be supporting the timely