On January 18, 2016, Dieter Woelfle, the principal shareholder of Woelco, sold 100% of his shares to CCL Industries Inc. (“CCL”), a world leader in specialty label and packaging solutions for global corporations, small businesses, and consumers. Being part of the CCL-Group, Woelco can now offer a greater variety of innovative products and labeling solutions, as well as provide better global service to customers. Woelco AG in Germany stays as an independent company under the umbrella of the CCL-Group. Uwe Dessecker will take over the role of the Chief Executive Officer (CEO) and Ralph Siegmund will be the Chief Financial Officer (CFO). Dieter Woelfle has taken the position as Managing Director of the European Industrial and Automotive Label Business for CCL Design. Both the Woelco Labeling Solutions, Inc. in USA and Changzhou Woelco Technology Co Limited in China will remain a part of the CCL-Group, playing an integral role in the global CCL strategy, with locations worldwide.