Dalian Dongbang Metal Technology Development Co., Ltd. completed the acquisition of Dalian Dongbang Ship Machinery Co., Ltd. from Dongbang Ship Machinery Co., Ltd..
May 31, 2017
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Dalian Dongbang Metal Technology Development Co., Ltd. signed a contract to acquire Dalian Dongbang Ship Machinery Co., Ltd. from Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) for KRW 6.1 billion on April 7, 2017. Dalian Dongbang Metal Technology Development Co., Ltd paid the deposit on April 12, 2017. The Board of Directors passed a resolution for the transaction on April 7, 2017. The transaction is expected to close by May 31, 2017.
Dalian Dongbang Metal Technology Development Co., Ltd. completed the acquisition of Dalian Dongbang Ship Machinery Co., Ltd. from Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) on May 31, 2017. On May 31, 2017, the balance payment was made.
Dongbang Ship Machinery Co., Ltd. is a Korea-based company engaged manufacture of ship plumbing and module units, as well as terrestrial and marine plants. The Company mainly manufactures and sells module units, including fuel oil (FO) supply systems used for ship boilers; lube oil/heavy fuel oil (LO/HFO) purifier units used for main engines, as well as pipe spools consisting of steel pipe spools, stainless steel pipe spools and copper pipe spools. It also engages in the ship repairing and other businesses. The Company had one China-based wholly owned subsidiary, Dalian Dongbang Ship Machinery Co., Ltd. On January 1, 2014, it divested its ship repair business into a new wholly owned subsidiary namely Dongbang Shipyard Co.,Ltd.
Dalian Dongbang Metal Technology Development Co., Ltd. completed the acquisition of Dalian Dongbang Ship Machinery Co., Ltd. from Dongbang Ship Machinery Co., Ltd..
DONGBANG SHIP MACHINERY CO., LTD. 
