DaeSung M-Tech Co.,Ltd entered into contract to acquire 0.11% stake in Daesung Fine Tech Co., Ltd. from Ufo Production Co., Ltd for KRW 10.5 billion.
March 23, 2017
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DaeSung M-Tech Co.,Ltd entered into contract to acquire 0.11% stake in Daesung Fine Tech Co., Ltd. (KOSDAQ:A104040) from Ufo Production Co., Ltd for KRW 10.5 billion on March 23, 2017. Ufo Production Co., Ltd will transfer registered officer resignation letter and other necessary documents of resignation on March 24, 2017 and will receive KRW 9.9 billion. Ufo Production Co., Ltd will transfer Daesung Fine Tech Co., Ltd.'s 0.1 million shares until September 30, 2017 and will receive KRW 0.6 billion payment.
Daesung Fine Tech. Co., Ltd is a Korea-based company principally engaged in the manufacture and sale of fine blanking molds. The Company operates its business through two segments. The Fine Blanking Business segment produces and distributes fine blanking products, such as door locks, seat recliners, brakes, safety belts, air conditioner disks, transmissions, clutch hub plates, molds and others, which are used as automobile parts. The Gangnam Renewable Energy Business segment manufactures products including solar water heaters and heat pumps.
DAESUNG FINETEC CO.,LTD. 
