APR to Absorb and Merge Wholly Owned Subsidiary APR Factory

[Financial News] APR will absorb and merge its production subsidiary, APR Factory, to improve management efficiency and strengthen the competitiveness of its beauty-device business.
According to the Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service on the 9th, APR will absorb and merge APR Factory, of which it owns 100%, without issuing new shares. The merger ratio is 1 to 0, meaning there will be no issuance of new shares or changes to the ownership structure. The merger agreement will be signed on the 16th, and the merger date is December 31.
APR Factory has operated three production sites—one in Gasan-dong, Seoul, and two in Pyeongtaek, Gyeonggi Province—and has been responsible for producing APR’s beauty devices.
Through the merger, APR plans to integrate the personnel and physical resources of both companies and reduce duplicated management costs. It also plans to simplify its decision-making structure and upgrade its production infrastructure to strengthen the competitiveness of new businesses, including energy-based beauty devices (EBD) and skin boosters.
An APR official said, "This decision was made to strengthen business competitiveness by improving organizational and operational efficiency. We will enhance shareholder value through growth in scale and improved profitability."

[email protected] Bae Han-geul Reporter