JOONGANG DNM Co.,Ltd agreed to acquire Ecomnet Co., Ltd. from Nicom Co., Ltd. for KRW 5 billion.
October 18, 2021
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JOONGANG DNM Co.,Ltd (KOSDAQ:A051980) agreed to acquire Ecomnet Co., Ltd. from Nicom Co., Ltd. for KRW 5 billion on October 19, 2021. As of December 31, 2020, Ecomnet Co., Ltd. had total assets of KRW 6.7 billion and total equity of KRW 2.2 billion. In 2020, Ecomnet Co., Ltd. generated total sales of KRW 10.9 billion and net income of KRW 295 million. Transaction is expected to close on October 26, 2021.
Joongang Advanced Materials Co Ltd, formerly Joongang DNM Co Ltd, is a Korea-based company primarily engaged in the communications equipment and equipment business. The Company operates through four segments. The Communication equipment business segment is mainly engaged in the provision of communication parts and maintenance services, including communication equipment for electric vehicles. The polyvinylchlorid (PVC) products and construction materials Manufacturing Business segment is mainly engaged in the manufacture of sashes, door frames, ducts, and others. The Light Emitting Diode (LED) and System Lighting Device Business Division is engaged in manufacturing LED edge lighting, and others. The Service business segment is mainly engaged in the provision of services such as interior design.
JOONGANG ADVANCED MATERIALS CO., LTD 
