Beauty company APR has announced plans to absorb its subsidiary APR Factory to enhance management efficiency and business competitiveness.
APR disclosed on September 9 that it has decided to proceed with the absorption merger of APR Factory, in which it holds a 100% stake. The merger will be conducted without issuing new shares, with a merger ratio of 1:0. There will be no changes to APR's share structure following the merger. The merger agreement date is set for September 16, and the effective date of the merger is December 31.
Through this merger, APR aims to improve the efficiency of human and material resource allocation and reduce costs by streamlining overlapping management systems. The company also plans to simplify its decision-making structure to respond quickly to changes in the global beauty market.
APR Factory operates three production sites, including one in Gasan, Seoul, and two in Pyeongtaek, Gyeonggi Province. It plays a key role in APR's production system, which encompasses research and development (R&D), product planning, production, and logistics.
An APR official stated, "This merger is a strategic decision to enhance organizational and operational efficiency, thereby strengthening our business competitiveness. We will work to increase shareholder value through growth in scale and profitability."
Meanwhile, APR reported consolidated revenues of 767.5 billion won and an operating profit of 190.6 billion won for the second quarter of this year, marking increases of 134.2% and 134.5%, respectively, compared to the same period last year.
* This article has been translated by AI.
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