Youngbo Chemical Co., Ltd. entered into an agreement to acquire Jeoksuyoung Bogo New Material Co., Ltd. for KRW 10.1 billion.
November 22, 2020
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Youngbo Chemical Co., Ltd. (KOSE:A014440) entered into an agreement to acquire Jeoksuyoung Bogo New Material (Wuxi) Co., Ltd. for KRW 10.1 billion on November 23, 2020. The Company plans to pay the share in installments until November 2021. The Youngbo Chemical board resolution was passed on November 23, 2020. The above details and acquisition date are subject to change depending on the approval procedure of local authorities in China and future business conditions. The transactions is expected to be completed by November 30, 2020.
Youngbo Chemical Co., Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of cross-linked polyolefin foam products. The Companyâs products are divided into two types: poly ethylene (PE) and propene polymer (PP). The Company markets its products under the brand name Artilon, Epilon, Youngboard, Filmy, Heatlon and others, which are used as automobile internal materials, construction materials and industrial materials with heat resistant, heat retaining, sound absorption, sealing, buffering, compacting and other functions. Its products are also used as electronic materials, such as materials for mobiles and others. The Company distributes its products within domestic market and to overseas markets. On April 1, 2014, it divested construction material business into a new new wholly owned subsidiary.
YOUNGBO CHEMICAL CO., LTD. 
