Taeyang Metal India Private Limited announced that it has received KRW 7.92 billion in funding from Taeyang Metal Industrial Co., Ltd.
October 30, 2013 at 09:30 am IST
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Taeyang Metal India Private Limited announced that it will receive KRW 7,923,750,000 in a round of funding on October 24, 2013. The company will issue equity securities in the transaction. The transaction will include participation from existing investor, Taeyang Metal Industrial Co., Ltd., which will continue to hold 100% stake in the company upon completion of the transaction. The transaction is expected to close on October 30, 2013. On the same date, the transaction was approved by the board of directors of the company. The company has reported total assets of KRW 36,578,000,000, total liabilities of KRW 31,906,000,000, total stockholders' equity of KRW 4,672,000,000, total capital of KRW 7,553,000,000, total revenues of KRW 22,899,000,000 and net loss of KRW 1,131,000,000 for the year 2012.
On October 30, 2013, Taeyang Metal India Private Limited closed the transaction.
Taeyang Metal Industrial Co. Ltd is a Korea-based company engaged in the provision of cold-forged products. The Company's products include automotive components such as engine components, including cylinder head bolts, con rod bolts, crank shaft pulley bolts, main bearing cap bolts, fly wheel bolts and others, steering components, including ball stud, ball housings, outer sockets, tie rods, upper shafts, solid shafts and others, brake components, including guide rods, input rods, output rods, adjusting screws and others, suspension components, including cam bolts, and other components, including flange bolts; motorcycle components such as drive train components and steering systems, and appliance components, such as compressor bolts. It also produces screws, nuts, washers and others. Its products are provided under the brand name of TMC. The Company distributes its products within domestic market and to overseas markets.