Daechang Forging Co., Ltd. completed the acquisition of 30% stake in TREK, Inc.
October 19, 2022
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Daechang Forging Co., Ltd. (KOSE:A015230) agreed to acquire additional 30% stake in TREK, Inc for KRW 25 billion on October 13, 2022. Daechang Forging Co., Ltd. will acquire remaining 3000 shares of TREK, Inc and the payment will be made in 3 installments. TREK, Inc reported turnover of KRW 107 billion, Total assets Worth KRW 77 billion, Net Income of KRW 6 billion and Total Common equity of KRW 41 billion.
Daechang Forging Co., Ltd. (KOSE:A015230) completed the acquisition of 30% stake in TREK, Inc on October 20, 2022.
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.