TPC Co., Ltd. (KOSDAQ:A130740) along with the consortium signed a memorandum of understanding to acquire Haisung Industrial System Company Limited on September 22, 2017. TPC consortium will deposit KRW 1.4 billion on September 22, 2017. TPC consortium was selected as a preferred bidder.

The accounting and legal affairs will be carried out for Haisung Industrial System Company Limited for ten business days from the effective date of memorandum of understanding. Accounting and legal assessment completion date is October 13, 2017, confirmation of acquisition amount following the actual assessment results date is October 23, 2017 and deposit payment and investment contract signing date is October 27, 2017. The Board of TPC Co., Ltd. made a decision for the transaction on September 22, 2017.