Powerlogics Co., Ltd. acquired an additional 41.09% stake in TSM Co., Ltd. from Top Engineering Co. Ltd. for KRW 10 billion.
September 21, 2015
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Powerlogics Co., Ltd. (KOSDAQ:A047310) acquired an additional 41.09% stake in TSM Co., Ltd. from Top Engineering Co. Ltd. (KOSDAQ:A065130) for KRW 10 billion in cash on September 21, 2015. For the period ending December 31, 2014, TSM Co., Ltd. reported total assets of KRW 31.04 billion, net liabilities of KRW 15.98 billion, sales of KRW 29.99 billion and net profit of KRW 2.28 billion. Post transaction, Powerlogics Co., Ltd. will hold 51.16% stake in TSM Co., Ltd. Board of Directors of Powerlogics Co., Ltd. resolved the transaction.
Powerlogics Co., Ltd. (KOSDAQ:A047310) completed the acquisition of an additional 41.09% stake in TSM Co., Ltd. from Top Engineering Co. Ltd. (KOSDAQ:A065130) on September 21, 2015.
POWERLOGICS. CO., LTD. is a Korea-based company principally engaged in the development, manufacture and sale of electronic parts. The Company mainly provides three categories of products: protection circuit modules (PCMs), which are used to protect secondary batteries used in mobile phones, personal digital assistants (PDAs) and other mobile information technology (IT) equipment; smart modules (SMs), which are used to exhibit battery status, as well as camera modules (CMs). The Company provides its PCMs, SMs and CMs under the brand names of PIPB42, BONN and KONA, respectively. The Company distributes its products within domestic market and to overseas markets. On August 9, 2014, it merged with its wholly owned subsidiary, AEP, engaged in glass manufacturing and printing.