Seoyon Top Metal Mexico S.A. de C.V. announced a private placement of shares for gross proceeds of KRW 5,472,000,000 with existing investor, Top Metal Works Co., Ltd. on May 22, 2015. The investor will hold 99.9% stake of the company after the transaction. The scheduled acquisition date is May 26, 2015.

The transaction has been approved by the board of directors of the investor. The company reported total assets of KRW 2,198,000,000, total stockholders' equity of KRW 2,198,000,000, and capital of KRW 2,209,000,000 for the year ending 2014.