Soosan Heavy Industries Co., Ltd. cancelled the acquisition of Junjin CSM Co., Ltd. from JUN JIN Heavy Industry Co., Ltd.
December 12, 2019
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Soosan Heavy Industries Co., Ltd. (KOSE:A017550) agreed to acquire Junjin CSM Co., Ltd. from JUN JIN Heavy Industry Co., Ltd. of KRW 62.2 billion on December 13, 2018. The consideration will be payable in cash. For the end of 2017, Junjin CSM reported total assets of KRW 85.8 billion, total capital of KRW 60.5 billion, sales of KRW 71.5 billion and net profit of KRW 6.4 billion. The transaction has been resolved by board of directors of Soosan Heavy Industries. The transaction is expected to close on December 13, 2018.
Soosan Heavy Industries Co., Ltd. (KOSE:A017550) cancelled the acquisition of Junjin CSM Co., Ltd. from JUN JIN Heavy Industry Co., Ltd. on December 13, 2019.
SOOSAN HEAVY INDUSTRIES CO.,LTD is a Korea-based company engaged in the manufacture of hydraulic equipment and cranes. The Company operates its business through two segments: hydraulic equipment segment and crane segment. Its hydraulic equipment segment manufactures hydraulic breakers and hydraulic drills used for rock crushing and excavation. Its crane segment manufactures cranes, including telescopic cranes, articulated cranes, pedestal cranes and crane augers, which are used for loading and unloading goods and transportation. It also provides attachments, such as mini-crushers, multi-crushers, multi-processors, pulverizers and demolition grabs. The Company provides its hydraulic breakers and hydraulic drills under the brand name SB, ST, SQ and STD, and provides its cranes under the brand name SCS. The Company also involves in the real estate rental business.
SOOSAN HEAVY INDUSTRIES CO., LTD. 
