Youngheung Iron & Steel Co., Ltd. (KOSE:A012160) agreed to acquire packing material business from Synopex Inc. (KOSDAQ:A025320) for KRW 15.3 billion on August 11, 2014. On August 11, 2014, Youngheung's Board of Directors passed a resolution for the transaction. The transaction is expected to close on October 10, 2014.

As on September 26, 2014, the expected closing is scheduled on September 26, 2014.