Daechang Forging Co., Ltd. cancelled the acquisition of an additional unknown minority stake in Sunway Daechang Forging Co Ltd.
November 25, 2019
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Daechang Forging Co., Ltd. (KOSE:A015230) agreed to acquire additional unknown minority stake in Sunway Daechang Forging (Anhui) Co Ltd for KRW 1.6 billion on November 26, 2018. Post transfer, Daechang Forging Co., Ltd. will hold 40% stake in Sunway Daechang. During the financial year ended December 2017, Sunway Daechang Forging (Anhui) Co Ltd reported total assets of KRW 8.8 billion, sales of KRW 11.6 billion, net assets of KRW 3.8 billion and net profit of KRW 534 million. The transaction is expected to be completed by November 28, 2018.
Daechang Forging Co., Ltd. (KOSE:A015230) cancelled the acquisition of an additional unknown minority stake in Sunway Daechang Forging (Anhui) Co Ltd on November 26, 2019.
DaeChang Forging Co., LTD. is a Korea-based company engaged in the manufacture of heavy machinery components and automobile parts. Its heavy machinery components include links, roller assemblies, track shoes, track chains, seals, pins, bushings, bolts and nuts, which are used for excavators, tractors and other heavy equipment. It also produces crank shafts used in engine parts of automobiles. The Company distributes its products within domestic market and to overseas markets.
DAECHANG FORGING CO., LTD. 
