Kumyang Co., Ltd. Signed a memorandum of understanding to acquire MONLAA Limited Liability Company from Khishigjargal Enkhsaikhan for $60 million.
May 09, 2023
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Kumyang Co., Ltd. (KOSE:A001570) Signed a memorandum of understanding to acquire MONLAA Limited Liability Company from Khishigjargal Enkhsaikhan for $60 million on May 10, 2023. This memorandum of understanding is intended to be used as an aid to negotiations between the parties to conclude the main contract, and unless the parties sign the final contract, no obligations are assumed in relation to this memorandum of understanding. Effective period of the MOU 1 month from the date of signing this MOU or until the date of conclusion of the complete contract by the parties.
As of July 4, 2023, the transaction has been resolved by the board of directors of Kumyang Co., Ltd. The transaction is expected to be closed by August 21, 2023.
KUM YANG CO., LTD. is a Korea-based company engaged in the manufacture and sale of chemicals and related products. The Company's product portfolio consists of chemical blowing agents, which are chemical additives used to evolve gas through thermal decomposition and produce foam structures in a polymeric matrix; capsulated blowing agents, which are used for polyvinyl chloride (PVC) sandals, artificial leather, screen printing, printing ink and other areas; master batches, which make processing circumstance clean without flowing powders and chemicals loss; titanium dioxides, which are used for coating industry, plastics and others, as well as flame retardant and other products. The Company distributes its products within domestic market and to overseas markets. On February 26, 2014, it acquired whole shares of KUMYANG NEIMENGGU CHEMICAL CO.,LTD, a China-based blowing agent manufacturing company. After that, the Company holds 100% of KUMYANG NEIMENGGU CHEMICAL CO.,LTD.
KUMYANG CO., LTD. 
