Samwhan Machinery Co., Ltd. cancelled the acquisition of Haedong Industries Co., Ltd. from Inhwa Precision Co., Ltd..
August 23, 2016
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Samwhan Machinery Co., Ltd. agreed to acquire Haedong Industries Co., Ltd. from Inhwa Precision Co., Ltd. (KOSDAQ:A101930) on August 24, 2015. Under the terms of the transaction, Samwhan Machinery will acquire Haedong for 0.01 million shares. The exchange ratio is 1:1. Samwhan Machinery will survive and Haedong Industries will be dissolved on completion of the deal. The deal is expected to close on September 30, 2015.
Samwhan Machinery Co., Ltd. cancelled the acquisition of Haedong Industries Co., Ltd. from Inhwa Precision Co., Ltd. (KOSDAQ:A101930) on August 24, 2016.
Inhwa Precision Co., Ltd. is a Korea-based company principally engaged in the manufacture of vessel engine components. The Company's vessel engine components include cylinder covers, cylinder frames, bed plates, frame boxes and others for low-speed diesel engines, as well as base frames and common beds for medium-speed diesel engines. It also provides power plant components, such as exhaust frames, end shields, bearing housings, main lead boxes, diffusers and others. In addition, through its subsidiaries, it is involved in the provision of automobile components such as joint cages, diff gears and others, as well as metal tooling machines such as soft line machines, rolling machines and others. The Company mainly distributes its products within domestic market.
INHWA PRECISION CO., LTD 