Kinik Company entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. for ¥1.9 billion.
Kinik Company (TWSE:1560) entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥1.9 billion on January 22, 2025.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Wu, Meng-da of Crowe (TW) CPAs/Taipei acted as the accountant for Kinik Company (TWSE:1560).
KINIK COMPANY is a Taiwan-based company mainly engaged in the manufacture and sales of traditional grinding wheels, diamond tools and reclaimed wafers. The Companyâs products consist of traditional products, including traditional grinding wheels, resin grinding wheels and diamond cutting blades, which are applied in machinery parts, steels, molds, semiconductor packaging, quartz products and glass products; diamond products, including diamond disks, which are applied in wafers, dynamic random access memories (DRAMs) and hard discs; wafer products, which are applied in integrated circuit (IC) production, as well as mold lens products, which are applied in mobile phones, digital cameras, optical communication receivers, mini projectors, monitors and medical equipment. The Company distributes its products mainly in Taiwan and the rest of Asia.
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Kinik Company entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. for ¥1.9 billion.
