Yantai Oriental Precision & Engineering Co., Ltd. announced that it expects to receive KRW 3.842885763 billion in funding from Oriental Precision & Engineering Co.,Ltd. and another investor
January 24, 2019
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Yantai Oriental Precision & Engineering Co., Ltd. announced that it will receive KRW 3,842,885,763 in equity funding on January 25, 2019. The transaction will include participation from existing investors Oriental Precision & Engineering Co.,Ltd. (KOSDAQ:A014940) for KRW 1,917,600,000 and Daeryeon Hongrang Machinery Precision Co., Ltd. for KRW 1,925,285,763. The transaction is expected to close on March 31, 2019. The transaction has been approved by the board of directors of the company.
ORIENTAL PRECISION & ENGINEERING CO.,LTD is a Korea-based company engaged in the manufacture and sale of shipping superstructures and shipping machineries. The Company operates its business through two main segments: shipping superstructure segment and shipping machinery segment. Its shipping superstructure segment mainly offers deck houses, engine room casings, funnels, hull blocks and offshore structures such as heavy cargo carriers, floating docks, hopper barges and others. Its shipping machinery segment mainly offers cranes, such as deck cranes, hose handling cranes, provision cranes, knuckle cranes, monorail cranes and gantry cranes; davits, such as life boat davits and free-fall davits, as well as moorings and winches. The Company distributes its products within domestic market and to overseas markets, including Japan, China and Europe.
Yantai Oriental Precision & Engineering Co., Ltd. announced that it expects to receive KRW 3.842885763 billion in funding from Oriental Precision & Engineering Co.,Ltd. and another investor
ORIENTAL PRECISION & ENGINEERING CO.,LTD. 
