THE WHAT? APS Innovation has acquired cosmetics automation equipment company Irae and the business division of Irae Engineering for a combined KRW24.5 billion (US$17.7 million), marking its entry into the cosmetics manufacturing equipment sector.

THE DETAILS The KOSDAQ-listed secondary battery and display equipment manufacturer has acquired a 100 percent stake in Irae and plans to combine the company’s automated cosmetics filling and packaging technology with its own precision machinery, control and manufacturing capabilities. Irae will also gain access to APS Innovation’s international infrastructure, including operations in the US, Canada and China, to support its global expansion.

THE WHY? The acquisition gives APS Innovation a new growth platform in cosmetics manufacturing automation, while providing Irae with the technology, manufacturing scale and international infrastructure needed to expand its equipment business globally.

Source: Seoul Economic Daily

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Source: Global Cosmetics News (https://www.globalcosmeticsnews.com/)

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