Taeyang Metal Industrial Co., Ltd. cancelled the acquisition of Yantai Taeyang Metal Co., Ltd.
December 30, 2016
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Taeyang Metal Industrial Co., Ltd. (KOSE:A004100) agreed to acquire Yantai Taeyang Metal Co., Ltd. for KRW 5.8 billion on June 27, 2013. The Board of Directors of Taeyang Metal Industrial passed a resolution for the transaction on June 27, 2013. The transaction is expected to close by June 30, 2015. As of June 30, 2015, the transaction is expected to complete on December 31, 2016.
Taeyang Metal Industrial Co., Ltd. (KOSE:A004100) cancelled the acquisition of Yantai Taeyang Metal Co., Ltd. on December 31, 2016.
Taeyang Metal Industrial Co. Ltd is a Korea-based company engaged in the provision of cold-forged products. The Company's products include automotive components such as engine components, including cylinder head bolts, con rod bolts, crank shaft pulley bolts, main bearing cap bolts, fly wheel bolts and others, steering components, including ball stud, ball housings, outer sockets, tie rods, upper shafts, solid shafts and others, brake components, including guide rods, input rods, output rods, adjusting screws and others, suspension components, including cam bolts, and other components, including flange bolts; motorcycle components such as drive train components and steering systems, and appliance components, such as compressor bolts. It also produces screws, nuts, washers and others. Its products are provided under the brand name of TMC. The Company distributes its products within domestic market and to overseas markets.
TAEYANG METAL INDUSTRIAL CO., LTD. 
