CAS Corporation cancelled the acquisition of an unknown majority stake in CAS ZHEJIANG.
November 30, 2013 at 04:00 am
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CAS Corporation (KOSE:A016920) agreed to acquire an unknown majority stake in CAS ZHEJIANG for KRW 5.4 billion in cash on November 20, 2012. The first investment amount $3 million (KRW 3.26 billion) paid on November 20, 2012 and the remaining $2 million (KRW 2.17 billion) will be invested in May 2013. The Board of Directors of CAS passed a resolution for the transaction on November 20, 2012. The acquisition is scheduled to take place on May 31, 2013. As of May 30, 2013, the remaining $2 million (KRW 2.17 billion) date has been changed to June 2013. As of May 30, 2013, the transaction has been postponed to June 28, 2013.
CAS Corporation (KOSE:A016920) cancelled the acquisition of an unknown majority stake in CAS ZHEJIANG on November 30, 2013.
CAS Corporation is a Korea-based company mainly engaged in the manufacture and distribution of electronic scales and load cells. The Companyâs products portfolio consists of commercial scales such as thermal label printings, ticket printings, price computing, hangings and other scales; industrial scales such as counting, electronic balances, micro weighing, simple weighing, crane type, platform type and other scales; weighing machines such as pallets, drum fillings, forklifts and low deck trucks; indicators such as economic simple weighing, industrial weighing, truck scale terminals and others; load cells such as bending and shear beams, canisters, truck and tank weighing and others, and strain gages. It also involves in the manufacture, wholesale and retail of its products through its affiliates, CAS SHANGHAI, CAS ZHEJIANG, CAS INDIA, CAS POLSKA, CAS. S. A and CAS VIETNAM.
CAS CORPORATION 
