European Commission says there are no competition concerns as there were many supply alternatives in the market and production capacity was abundant.
The European Commission (EC) has approved the acquisition of Hansol Denmark (Schades) and the German R+S Group by the US label solutions and thermal paper converter Iconex.
Schades and the R+S Group are active in the conversion and supply of lightweight thermal paper for various end-products including receipt paper rolls and self-adhesive labels. Iconex is also active in the conversion and supply of lightweight thermal paper for various end-products including converted rolls, printer consumables and self-adhesive labels.
The proposed acquisition was examined under the normal merger review procedure. The EC found that the takeover would "raise no competition concerns, given that a number of strong alternative suppliers would remain available to customers after the transaction, there is spare capacity in the industry and barriers to entry on the market for the supply of converted rolls are low."
*headline changed on 19 June 2019
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