Hwaseung Industries Co., Ltd. cancelled the acquisition of Hwaseung Vina Company Limited from Hwaseung R & A Co.,Ltd.
April 23, 2014 at 12:00 am EDT
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Hwaseung Industries Co., Ltd. (KOSE:A006060) agreed to acquire Hwaseung Vina Company Limited from Hwaseung R & A Co.,Ltd (KOSE:A013520) for KRW 17.2 billion on April 23, 2013. The transaction was resolved by the Board of Directors of Hwaseung Industries and Hwaseung R & A. The transaction is expected to complete on April 29, 2013.
Hwaseung Industries Co., Ltd. (KOSE:A006060) cancelled the acquisition of Hwaseung Vina Company Limited from Hwaseung R & A Co.,Ltd (KOSE:A013520) on April 23, 2014.
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. 
