Woojin Inc. acquired 80% stake in Hyomyung ENG Co., Ltd. for KRW 4 billion.
September 23, 2014 at 12:00 am EDT
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Woojin Inc. (KOSE:A105840) acquired 80% stake in Hyomyung ENG Co., Ltd. for KRW 4 billion on September 23, 2014. Woojin Inc. acquired 0.58 million shares. As of December 31, 2013, Hyomyung ENG Co., Ltd. reported sales of KRW 11.7 billion, total assets of KRW 10.2 billion, total liabilities of KRW 7.55 billion, net assets of KRW 2.66 billion. The transaction has been resolved by Board of Directors of Woojin Inc. on September 23, 2014.
Woojin Inc. (KOSE:A105840) completed the acquisition of 80% stake in Hyomyung ENG Co., Ltd. on September 23, 2014.
WOOJIN INC. is a Korea-based company engaged in the manufacture of industrial measuring equipment. Its products consist of measuring machines for nuclear power plants, including in-core instruments (ICIs), read switch position transmitters (RSPTs), heated junction thermocouples (HJTCs)and others; automation equipment, automatic temperature measurement systems (ATMSs), slag layer measurement devices and other automatic measuring machines used in steel production sites; condition monitoring systems (CMSs); temperature sensors, used in nuclear power, semiconductor, petrochemical, airline, ship construction and genetic engineering sectors; flowmeters, including vortex type and thermistor type, and materials. On March 12, 2013, the Company acquired additional shares of a Korea-based company. After the transaction, the Company holds 66.67% stake in the Korea-based company. On October 1, 2013, it acquired a 65% stake in SVC Inc.
WOOJIN INC. 
