Sejin Heavy Industries Co., Ltd. acquired a 45% stake in Jitech Co., Ltd. for KRW 10 billion.
June 25, 2020
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Sejin Heavy Industries Co., Ltd. (KOSE:A075580) acquired a 45% stake in Jitech Co., Ltd. for KRW 10 billion on June 26, 2020. In the year ended December 31, 2019, Jitech Co., Ltd. reported total assets of KRW 47 billion and net income of - KRW 6 million. Board of directors of Jitech Co., Ltd. approved the acquisition.
Sejin Heavy Industries Co., Ltd. (KOSE:A075580) completed the acquisition of a 45% stake in Jitech Co., Ltd. on June 26, 2020.
Sejin Heavy Industries Co Ltd is a Korea-based company mainly engaged in the manufacture of ship components. The Company operates its business through two segments. The Shipbuilding segment manufactures deck houses including engine casings, funnels, radar masts and wing bridges, liquefied petroleum gas (LPG) tanks, upper deck units for crude oil tankers, product carriers, chemical tankers and LPG carriers, ring blocks, gorgons, engine rooms and others. The Plant segment manufactures living quarters, burner booms, flare towers and clare ridges. The Company distributes its products in domestic and overseas markets.
SEJIN HEAVY INDUSTRIES CO., LTD. 
