Daeyeun Precision Co. Ltd. announced that it has received KRW 5 billion in funding from Inhwa Precision Co., Ltd.
February 21, 2013 at 09:30 am IST
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Daeyeun Precision Co. Ltd. announced that it will issue 500,000 common shares at KRW 10,000 for gross proceeds of KRW 5,000,000,000 to existing investor Inhwa Precision Co., Ltd. on February 20, 2013.
On February 21, 2013, Daeyeun Precision Co. Ltd. closed the transaction.
Inhwa Precision Co., Ltd. is a Korea-based company principally engaged in the manufacture of vessel engine components. The Company's vessel engine components include cylinder covers, cylinder frames, bed plates, frame boxes and others for low-speed diesel engines, as well as base frames and common beds for medium-speed diesel engines. It also provides power plant components, such as exhaust frames, end shields, bearing housings, main lead boxes, diffusers and others. In addition, through its subsidiaries, it is involved in the provision of automobile components such as joint cages, diff gears and others, as well as metal tooling machines such as soft line machines, rolling machines and others. The Company mainly distributes its products within domestic market.
INHWA PRECISION CO., LTD 
