Kolon Plastics, Inc agreed to acquire remaining 60.36% stake in KSID Co., Ltd. for KRW 5.5 billion.
March 27, 2012 at 12:00 am EDT
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Kolon Plastics, Inc (KOSE:A138490) agreed to acquire remaining 60.36% stake in KSI Corporation for KRW 5.5 billion in cash on March 27, 2012. Kolon Plastics will acquire 0.504 million shares of KSI Corporation. Upon completion, Kolon Plastics will own 100% stake in KSI Corporation. For the year 2011, KSI Corporation recorded total assets of KRW 6.939 billion, total liabilities of KRW 363 million, total stock holders equity of KRW 6.576 billion, sales revenue of KRW 5.143 billion and net profit of KRW 687 million. The Board of Directors of Kolon Plastics passed a resolution for the transaction on March 27, 2012. The transaction is expected to complete on April 3, 2012.
KOLON PLASTICS, INC. is a Korea-based company engaged in the manufacture and marketing of engineering plastics. The Companyâs products mainly consist of polyamide (PA) products under the brand name of KOPA, which are used in the manufacture of automobiles and industrial parts; polybutylene terephthalate (PBT) products under the brand name of SPESIN, which are used in electricity and electronic industries, and polyoxymethylene (POM) products under the brand name of KOCETAL, which are used for various purposes, such as cars, office equipment and living materials. It also provides polyethylene terephthalate (PET), polyphenylene sulfide (PPS) and other engineering plastics. The Company distributes its products within domestic market and to overseas markets.
KOLON ENP 
