TPC Co., Ltd. cancelled the acquisition of Haisung Industrial System Company Limited.
September 21, 2018
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TPC Co., Ltd. (KOSDAQ:A130740) along with the consortium signed a memorandum of understanding to acquire Haisung Industrial System Company Limited on September 22, 2017. TPC consortium will deposit KRW 1.4 billion on September 22, 2017. TPC consortium was selected as a preferred bidder. The accounting and legal affairs will be carried out for Haisung Industrial System Company Limited for ten business days from the effective date of memorandum of understanding. Accounting and legal assessment completion date is October 13, 2017, confirmation of acquisition amount following the actual assessment results date is October 23, 2017 and deposit payment and investment contract signing date is October 27, 2017. The Board of TPC Co., Ltd. made a decision for the transaction on September 22, 2017.
TPC Co., Ltd. (KOSDAQ:A130740) cancelled the acquisition of Haisung Industrial System Company Limited on September 22, 2018.
Haisung Aero Robotics Co Ltd, formerly Haisung TPC Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of reducers and hoisting machines. The Company operates its business through three segments. The Elevator Reducer and Hoisting Machine segment develops and manufactures hoisting machines, reducers and gear devices used for elevators and escalators. The Industrial Reducer segment develops and manufactures reducers used for steel making facilities, handling facilities, environmental facilities, industrial production lines, wind power generators, and ship engines, among others. The Robot Reducer segment develops and manufactures reducers used for joint drive of industrial manufacturing robots.