Tailim Packaging Co., Ltd. entered into an agreement to acquire corrugated box and material business of Paju factory from Tailim Paper Co., Ltd. for KRW 17.4 billion.
October 09, 2016
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Tailim Packaging Co., Ltd. (KOSE:A011280) entered into an agreement to acquire corrugated box and material business of Paju factory from Tailim Paper Co., Ltd. for KRW 17.4 billion on October 10, 2016. Under the terms of the transaction, the consideration will be paid by set off against common stock reduction of Tailim Paper Co., Ltd. and remaining in cash, 20 days within closing. The corrugated box and material business reported sales of KRW 30.5 billion for the year ending December 31, 2015. The transaction was resolved by the board of directors of Tailim Packaging. The transaction is subject to shareholders approval of Tailim Packaging in a meeting to be held on November 21, 2016. As on November 21, 2016, Tailim Packaging Co., Ltd. approved the acquisition. The transaction is expected to close on December 30, 2016.
Tailim Packaging Co., Ltd, formerly Tailim Packaging Industrial Co., Ltd., is a Korea-based company principally engaged in the manufacturing and sale of corrugated boxes. Along with its subsidiaries, the Company operates its business through three segments. Corrugated Boxes segment manufactures and sells boxes, materials and by-products. Corrugated Papers segment manufactures and sells test liner papers, corrugating medium papers and tube papers, also does waste disposal. Freight Transportation segment operates the transportation of goods. The Company distributes its products within domestic market and to overseas markets.
Tailim Packaging Co., Ltd. entered into an agreement to acquire corrugated box and material business of Paju factory from Tailim Paper Co., Ltd. for KRW 17.4 billion.
TAILIM PACKAGING CO., LTD. 
