SIMPAC Inc. announces an Equity Buyback for 2,325,581 shares.
March 19, 2020 at 11:52 am IST
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SIMPAC Inc. (KOSE:A009160) announces a share repurchase program. Under the program, the company will repurchase up to 2,325,581 shares. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on June 19, 2020. As of March 18, 2020, the company had 6,055,318 treasury shares within scope available for dividend and 669,203 shares in treasury through other repurchase.
SIMPAC Inc. is a Korea-based company mainly engaged in the manufacture of presses for metal parts manufacturing. The Companyâs products consist of mechanical presses, including coordinate frame (C-frame) crank presses, solid frame presses, transfer presses, liner guide link presses, straight side crank presses, crankless presses, as well as servo presses and hydraulic presses. The Company also produces automation equipment, including transfer robots, shuttle robots, loaders, unloaders, new uncoiler leveler (NC) feeders, NC feeders, blanking lines and slitting lines. In addition, it engages in the rental business. The Company distributes its products within domestic market and to overseas markets. On February 11, 2014, the Company acquired a 98% stake in BONG SHIN Co.Ltd.
SIMPAC INC. 
