Hwaseung Industries Co., Ltd. agreed to acquire remaining 40% stake in HS Vietnam Chemical Co., Ltd from Hwaseung R & A Co.,Ltd for KRW 1.5 billion.
April 23, 2013 at 12:00 am EDT
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Hwaseung Industries Co., Ltd. (KOSE:A006060) agreed to acquire remaining 40% stake in HS Vietnam Chemical Co., Ltd from Hwaseung R & A Co.,Ltd (KOSE:A013520) for KRW 1.5 billion on April 23, 2013. The transaction is expected to close on April 29, 2013.
HWASEUNG Industries Co.,Ltd is a Korea-based company principally engaged in the manufacture and distribution of footwear. The Company operates in three segments: film segment, footwear segment and distribution segment. The film segment provides biaxially oriented polypropylene (BOPP) films, polyester films, breathable films, metalized films, synthetic paper films, as well as polyethylene terephthalate (PET) films under the brand name Hi-Phane and others, which are used as packaging materials. The footwear segment is engaged in the provision of original equipment manufacturing (OEM) products for ADIDAS and REEBOK, and footwear related products. The distribution segment is engaged in the distribution of chemicals and industrial goods. The Company supplies its products within domestic market and to overseas markets.
HWASEUNG INDUSTRIES CO.,LTD. 