KC Cottrell Co Ltd cancelled the acquisition of Hyesung Co., Ltd.
June 03, 2014 at 09:30 am IST
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KC Cottrell Co Ltd (KOSE:A119650) agreed to acquire Hyesung Co., Ltd. for KRW 2.3 billion in cash on June 3, 2013. KC Cottrell will acquire 0.04 million shares of Hyesung. Hyesung Co., Ltd. reported total assets of KRW 2.67 billion, total liabilities of KRW 1.03 billion, total stockholders' equity of KRW 1.64 billion, sales revenue of KRW 3.52 billion and net profit of KRW 342.51 million in 2012. The Board of Directors of KC Cottrell Co Ltd resolved to undertake the transaction on June 3, 2013. The transaction is expected to close on June 5, 2013.
KC Cottrell Co Ltd (KOSE:A119650) cancelled the acquisition of Hyesung Co., Ltd. on June 3, 2014.
KC Cottrell Co.,Ltd. is a Korea-based company engaged in the manufacture of environment equipment. The Company mainly provides three categories of products: dust collection systems, gas treatment systems and other new energy systems. Its dust collection systems include electrostatic precipitators (ESPs), reverse air fabric filters, pulse jet air fabric filters, ceramic filters and others. Its gas treatment systems include absorbers and auxiliary systems, limestone slurry preparation systems, flue gas systems, gypsum dewatering systems, waste water treatment systems, rotary atomizer systems and others. Its other new energy systems include ash handling systems, industrial machineries, and photovoltaic equipment. On May 22, 2013, the Company established a new wholly owned subsidiary, engaged in the bag filter business. On June 5, 2013, it acquired a 100% stake in a Korea-based company.
KC COTTRELL CO., LTD. 
