Shin Dong Woo acquired 60% stake in Nano Tuna Engineering Co.,Ltd from Zhejiang Tuna Environmental Science & TechnologyCo.,Ltd. for approximately KRW 170 million.
December 16, 2022
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Shin Dong Woo intends to acquire 60% stake in Nano Tuna Engineering Co.,Ltd from Zhejiang Tuna Environmental Science & TechnologyCo.,Ltd. (SHSE:603177) for approximately KRW 170 million on December 17, 2021. After the completion of this transaction, Zhejiang Tuna Environmental Science & Technology no longer holds shares of Nano Tuna Engineering. As of December 31, 2020, Nano Tuna's total assets of KRW 69.8 billion, Net Assets of KRW 43.2 billion, Operating Income of KRW 36.3 million, Net Profit of KRW 46.5 billion.
Shin Dong Woo completed the acquisition of 60% stake in Nano Tuna Engineering Co.,Ltd from Zhejiang Tuna Environmental Science & TechnologyCo.,Ltd. (SHSE:603177) on December 17, 2022 which is an estimated closing date.
Zhejiang Tuna Environmental Science & Technology Co., Ltd. is a China-based company and mainly engaged in providing flue gas comprehensive service. The main products of the company include desulfurization equipment, honeycomb and flat-panel denitrification catalyst, wet electrostatic precipitator, and among others. The Company also provides flue gas treatment engineering service which means whole scheme design, material procurement, project construction and commissioning of the flue gas treatment system according to the specific needs of the users, and finally delivering the users after the qualified acceptance to achieve the goal of pollution abatement. The Company mainly runs business for the power, metallurgy, petrochemical and other industries, and distributes its products and service in domestic and overseas markets.
ZHEJIANG TUNA ENVIRONMENTAL SCIENCE & TECHNOLOGYCO.,LTD. 
