DUAL Industrial Co., Ltd. cancelled the sale of 8.22% stake in DUAL Co.,Ltd.
March 16, 2012 at 12:00 am EDT
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DUAL Industrial Co., Ltd. (KOSE: A078590) agreed to sell 8.22% stake in DUAL Co.,Ltd. for approximately KRW 1 billion on March 16, 2011. DUAL Industrial will sell 2.91 million shares. Upon completion of the transaction, DUAL Industrial will not hold any stake in DUAL Co.,Ltd. DUAL Co.,Ltd reported sales of KRW 50.33 billion, net loss of KRW 4.87 billion, total assets of KRW 55.55 billion, total borrowings of KRW 38.38 billion and total stockholders' equity of KRW 5.59 billion for the year ending December 31, 2010. The board of Directors of DUAL Industrial passed a resolution for the transaction on March 16, 2011 and the transaction is expected to be completed by March 18, 2011.
DUAL Industrial Co., Ltd. (KOSE:A078590) cancelled the sale of 8.22% stake in DUAL Co.,Ltd. on March 16, 2012.
DUAL Co., Ltd is a Korea-based company primarily engaged in the manufacture and distribution of automotive interior products. The Companyâs products include car seat fabrics, seat coverings, airbags and carpet molding products. The Company distributes its products within domestic market and to overseas markets.
DUAL CO., LTD. 
