Geumhwa PSC Co. Ltd. cancelled the acquisition of Max Power Co., Ltd.
June 19, 2014 at 12:00 am EDT
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Geumhwa PSC Co. Ltd. (KOSE:A036190) agreed to acquire Max Power Co., Ltd. for KRW 24 billion in cash on June 19, 2013. Geumhwa acquired 0.2 million shares of Max Power. Max Power Co., Ltd. reported KRW 16.8 billion of revenue, KRW 10.79 of total assets, KRW 1.47 billion of net income and KRW 9.57 billion of total common equity for the year ended December 31, 2012. The Board of Geumhwa PSC Co. Ltd. passed a resolution for the transaction on June 19, 2013. The transaction is expected to be completed on July 19, 2012.
Geumhwa PSC Co. Ltd. (KOSE:A036190) cancelled the acquisition of Max Power Co., Ltd. on June 19, 2014.
GEUMHWA PLANT SERVICE & CONSTRUCTION CO., LTD. is a Korea-based company mainly engaged in the construction of industrial plants. The Company constructs plants, such as thermoelectric power plants, nuclear power plants, petrochemical plants, liquefied natural gas (LNG) bases, tidal power plants, steel manufacturing plants, as well as other plant works, including the installation of incinerators, sewage disposal plants and apartment facilities. It also provides power plant maintenance services, including upkeep services, as well as precaution and rehabilitation services for boilers, desulfurization equipment, turbines and generators. In addition, it engages in the overseas plant construction business. It also involves in the manufacture of automotive components through Ansung Co Ltd.
GEUMHWA PLANT SERVICE & CONSTRUCTION CO., LTD. 
