Hanwha Impact Co., Ltd. signed a memorandum of understanding to acquire 21.58% stake in HSD Engine Co., Ltd. from Inhwa Precision Co., Ltd for approximately KRW 140 million.
February 15, 2023
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Hanwha Impact Co., Ltd. signed a memorandum of understanding to acquire 21.58% stake in HSD Engine Co., Ltd. (KOSE:A082740) from Inhwa Precision Co., Ltd (KOSDAQ:A101930) for approximately KRW 140 million on February 16, 2023. Hanwha Impact Co., Ltd. signed an agreement to acquire 21.58% stake in HSD Engine Co., Ltd. (KOSE:A082740) from Inhwa Precision Co., Ltd (KOSDAQ:A101930) on July 6, 2023. Of the total consideration, KRW 13.7 billion shall be paid as down payment and the balance KRW 123.7 billion shall be paid at completion.
The transaction is expected to complete on February 27, 2024.
Inhwa Precision Co., Ltd. is a Korea-based company principally engaged in the manufacture of vessel engine components. The Company's vessel engine components include cylinder covers, cylinder frames, bed plates, frame boxes and others for low-speed diesel engines, as well as base frames and common beds for medium-speed diesel engines. It also provides power plant components, such as exhaust frames, end shields, bearing housings, main lead boxes, diffusers and others. In addition, through its subsidiaries, it is involved in the provision of automobile components such as joint cages, diff gears and others, as well as metal tooling machines such as soft line machines, rolling machines and others. The Company mainly distributes its products within domestic market.
Hanwha Impact Co., Ltd. signed a memorandum of understanding to acquire 21.58% stake in HSD Engine Co., Ltd. from Inhwa Precision Co., Ltd for approximately KRW 140 million.
INHWA PRECISION CO., LTD 
