KC Cottrell Co Ltd agreed to acquire 84.8% stake in Yuyang Technologies Co., Ltd. for KRW 2.2 billion.
June 21, 2016
Share
KC Cottrell Co Ltd (KOSE:A119650) agreed to acquire 84.8% stake in Yuyang Technologies Co., Ltd. for KRW 2.2 billion in cash on June 22, 2016. KC Cottrell will acquire 51,730 shares. Yuyang Technologies had total assets of KRW 4.5 billion, revenues of KRW 8.6 billion and net income of KRW 159 million for the year ended December 31, 2015. KC Cottrell board passed resolution as on June 22, 2016. As on June 24, 2016, the scheduled completion date is June 30, 2016.
KC Cottrell Co.,Ltd. is a Korea-based company engaged in the manufacture of environment equipment. The Company mainly provides three categories of products: dust collection systems, gas treatment systems and other new energy systems. Its dust collection systems include electrostatic precipitators (ESPs), reverse air fabric filters, pulse jet air fabric filters, ceramic filters and others. Its gas treatment systems include absorbers and auxiliary systems, limestone slurry preparation systems, flue gas systems, gypsum dewatering systems, waste water treatment systems, rotary atomizer systems and others. Its other new energy systems include ash handling systems, industrial machineries, and photovoltaic equipment. On May 22, 2013, the Company established a new wholly owned subsidiary, engaged in the bag filter business. On June 5, 2013, it acquired a 100% stake in a Korea-based company.
KC COTTRELL CO., LTD. 
