Hwaseung Industries Co., Ltd. agreed to acquire additional 4.87% stake in Hwaseung R & A Co.,Ltd for KRW 9.4 billion.
July 09, 2014 at 09:30 am IST
Share
Hwaseung Industries Co., Ltd. (KOSE:A006060) agreed to acquire additional 4.87% stake in Hwaseung R & A Co., Ltd. (KOSE:A013520) for KRW 9.4 billion on July 9, 2014. Under the terms of transaction, Hwaseung Industries will acquire 0.29 million shares of Hwaseung R & A and will hold a total of approximately 0.64 million shares of Hwaseung R & A on closing.
HWASEUNG Industries Co.,Ltd is a Korea-based company principally engaged in the manufacture and distribution of footwear. The Company operates in three segments: film segment, footwear segment and distribution segment. The film segment provides biaxially oriented polypropylene (BOPP) films, polyester films, breathable films, metalized films, synthetic paper films, as well as polyethylene terephthalate (PET) films under the brand name Hi-Phane and others, which are used as packaging materials. The footwear segment is engaged in the provision of original equipment manufacturing (OEM) products for ADIDAS and REEBOK, and footwear related products. The distribution segment is engaged in the distribution of chemicals and industrial goods. The Company supplies its products within domestic market and to overseas markets.
HWASEUNG INDUSTRIES CO.,LTD. 