Tongyang Pile, Inc. signed a contract to acquire pile business from Tongyang Inc. (KOSE:A001520) for KRW 120 billion on July 15, 2013. The deal value is subject to adjustments. The transaction is expected to be completed on August 2, 2013.

As of August 5, 2013, Tongyang amended the transaction terms and changed the consideration value to KRW 117 billion and expected closing to August 5, 2013.