Kukdong Construction Material Company agreed to acquire waterproof membrane business sector from Kukdong Oil & Chemicals Co., Ltd. for KRW 16.1 billion.
May 23, 2017
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Kukdong Construction Material Company agreed to acquire waterproof membrane business sector from Kukdong Oil & Chemicals Co., Ltd. (KOSE:A014530) for KRW 16.1 billion on May 24, 2017. As per terms, the waterproof membrane business including the assets, contract and other rights will be acquired. The Board of Directors of Korea Petroleum Industries Company, parent of Kukdong Construction Material Company resolved the deal on May 24, 2017. The submission of Fair Trade Commission report is required for the transaction. The deal is expected to close on May 31, 2017.
Kukdong Oil & Chemicals Co.,Ltd is a Korea-based company mainly engaged in the manufacturing of lubricants, waterproofing sheets, liquefied petroleum gas (LPG) and asphalt products. The lubricants include industrial lubricants, metal working fluid, process oil, liquid paraffin, greases and paraffin waxes used for industrial machines, cosmetics, pharmaceuticals, rubber mixture and others. The waterproofing sheets are mainly used in construction sector. The LPG is used for heating systems and automobiles. The asphalt products are used in construction and automobiles. The Company distributes its products within domestic market and to overseas markets.
Kukdong Construction Material Company agreed to acquire waterproof membrane business sector from Kukdong Oil & Chemicals Co., Ltd. for KRW 16.1 billion.
KUKDONG OIL & CHEMICALS CO.,LTD 
