Abengoa SA entered into an agreement to acquire 55% stake in Hankook R&M Co., Ltd. from HNK Machine Tool CO.,LTD., Hankook Steel Co., Ltd, Han Kook Steel & Mill Co., Ltd. and other investors for €60 million.
September 12, 2012 at 12:00 am EDT
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Abengoa SA (CATS:ABG) entered into an agreement to acquire 55% stake in Hankook R&M Co., Ltd. from HNK Machine Tool CO.,LTD. (KOSE:A101680), Hankook Steel Co., Ltd (KOSE:A025890), Han Kook Steel & Mill Co., Ltd. and other investors for €60 million on September 12, 2012. Abengoa will hold an option to purchase an additional 25% of Hankook after the first year and the remaining 20% between the third and the fifth years once the agreement has been signed, which will be carried out by Abengoa's German industrial waste recycling division. Anisha Shah of Weber Shandwick acted as PR advisor for Abengoa.
HNK MACHINE TOOL CO., LTD. is a Korea-based company mainly engaged in the manufacture and distribution of computer numerical controlled (CNC) machine tools. The Company's product portfolio consists of CNC vertical lathes, CNC horizontal lathes, CNC double-column machining centers, CNC duplex boring machines, CNC floor-type horizontal boring machines, specialized purpose machines for large sized ship engine related products, high speed special purpose machines, as well as CNC gear hobbing machines and others. The Company distributes its products within domestic market and to overseas markets.
Abengoa SA entered into an agreement to acquire 55% stake in Hankook R&M Co., Ltd. from HNK Machine Tool CO.,LTD., Hankook Steel Co., Ltd, Han Kook Steel & Mill Co., Ltd. and other investors for €60 million.
HNK MACHINE TOOL CO., LTD. 
