Huem&c, Subsidiary Hubena Merges... Launching 'Healthcare Total Auxiliary Materials Business'

[Asia Economy Reporter Chunhee Lee] Huem&c announced on the 26th that it is promoting the absorption merger of its 100% subsidiary Huvena.

This merger is evaluated as Huons Group selecting the "healthcare total auxiliary materials business" as its third future strategic business following health functional foods and medical devices. Through the merger, it is a preemptive measure to expand its business area based on the cosmetics and pharmaceutical auxiliary materials business.

Huem&c and Huvena resolved the merger of the two companies through their boards of directors on the 25th. After completing the related reporting and procedures, the plan is to complete the merger in July.

After the merger, Huem&c plans to operate the healthcare total auxiliary materials business by adding Huvena's pharmaceutical auxiliary materials business to the existing cosmetics auxiliary materials business under the leadership of CEO Kim Juncheol. In addition, by utilizing integrated human and physical resources, it aims to increase productivity, promote management efficiency, and strengthen sales and marketing to enhance market competitiveness.

A Huem&c official said, "We are promoting the merger with Huvena, which has solid growth resources and can create synergy with existing businesses for Huem&c's leap forward," adding, "The healthcare total auxiliary materials business pursued by Huem&c is an essential field to support the rapidly growing contract development and manufacturing organization (CDMO), original equipment manufacturing (OEM), and original design manufacturing (ODM) industries, and will be a future growth engine for Huons Group."

This content was produced with the assistance of AI translation services.