Huons Group said on the 30th that subsidiary Huons N signed a contract to merge by absorption its 100% subsidiary BIOROSETTE.
The merger will proceed as a small-scale merger without issuing new shares. The board approved the agenda the previous day, and after related procedures, the companies plan to finalize the merger on Jul. 1.
BIOROSETTE is an original equipment manufacturing (OEM) and original design manufacturing (ODM) corporations for health functional foods that Huons N acquired in Nov. last year. Based on production facilities certified under Good Manufacturing Practice (GMP) and Hazard Analysis and Critical Control Points (HACCP), it can produce a total of six dosage forms including liquid, powder, tablet, and hard capsule, and it has nine types of packaging equipment including stick, pouch, bottle, and press-through package (PTP).
With this merger, Huons N plans to pursue global expansion based on production facilities certified under the Food Safety System Certification (FSSC 22000).
Son Dong-cheol, CEO of Huons N, said, "This merger is a strategic decision for an aggressive push into the global market," adding, "We will respond swiftly to customer needs based on a production infrastructure with strong competitiveness."