Vitzro Tech Co., Ltd. cancelled the acquisition of Vitzro Materials Co., Ltd. from Jang, Soon-Sang and Jang, Taek-Soo.
July 26, 2017
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Vitzro Tech Co., Ltd. (KOSDAQ:A042370) agreed to acquire Vitzro Materials Co., Ltd. from Jang, Soon-Sang and Jang, Taek-Soo for KRW 8.4 billion on July 27, 2016. Vitzro Tech will acquire 0.01 million shares from Jang, Soon-Sang by issuing 0.11 million shares and acquire 0.19 million shares from Jang, Taek-Soo by issuing 1.83 million shares. In related transactions, Vitzro Tech Co., Ltd. agreed to acquire 14.23% stake in Vitzrocell Co., Ltd and 96.87% stake in Vitzro Miltech Co., Ltd. Vitzro Materials had total assets of KRW 8,211 million and net profit of KRW 1,202 million in 2015. The deal was approved by Board of Vitzro Tech on July 27, 2016. The transaction is expected to complete on August 30, 2016. As of August 30, 2016, the scheduled acquisition date was revised to September 1, 2016.
Vitzro Tech Co., Ltd. (KOSDAQ:A042370) cancelled the acquisition of Vitzro Materials Co., Ltd. from Jang, Soon-Sang and Jang, Taek-Soo on July 27, 2017.
VITZRO TECH CO. LTD is a Korea-based company mainly involved in the manufacture of electrical equipment. It manufactures medium/low voltage circuit breakers, switchgears, relays and protective equipment. The switchgears include gas insulated switchgears, metal clad switchgears and motor control centers. The relays include digital multi-functions protective relays and integrated meters. The protective equipment includes surge protective devices and polysil-epoxy insulators. It also manufactures aerospace products with plasma technology for liquid waste treatment and ultra precision bonding under vacuum state. The Company distributes its products within domestic market and to overseas markets.
VITZRO TECH CO. LTD 
