Widwin Networks Corp. completed the acquisition of HLB Networks Co.,Ltd. from HLB Co., Ltd. and 12 individuals.
September 02, 2016
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Widwin Networks Corp. (KOSDAQ:A043220) agreed to acquire HLB Networks Co.,Ltd. from HLB Co., Ltd. (KOSDAQ:A028300) and 12 individuals for KRW 16 billion on September 1, 2016. Under the terms, Widwin Networks will acquire 3.99 million shares. HLB Networks Co. had total asstes of KRW 91.7 billion, sales of KRW 38.5 billion and current net loss of KRW 7.4 billion in 2015. The Board of Widwin Networks resolved the deal on September 1, 2016. Jiam Accounting Corporation acted as accountant for Widwin Networks.
Widwin Networks Corp. (KOSDAQ:A043220) completed the acquisition of HLB Networks Co.,Ltd. from HLB Co., Ltd. (KOSDAQ:A028300) and 12 individuals on September 2, 2016. The payment was completed on September 2, 2016.
TS Nexgen Co Ltd, formerly HLB Power Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of electrical equipment. The Company operates its business through five segments. The Damper segment is mainly engaged in the manufacture and sale dampers for ships, power plants and plant industrial facilities. The Busway segment is mainly engaged in the production and sale of busways for the transmission and distribution of production facilities and skyscrapers. The Energy Storage System (ESS) segment is mainly engaged in the manufacture and sale of electrical energy storage systems. The Lifeboat Inspection and After-Sales Service (A/S) segment is mainly engaged in the provision of inspection and after-sales services for lifeboats and others. The Other segment is involved in real estate development.