An unknown buyer agreed to acquire 45% stake in Trex Thairung Co., Ltd from Kyokuto Kaihatsu Kogyo Co.,Ltd. and NIPPON TREX CO.,LTD. for approximately THB 100 million.
July 23, 2019
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An unknown buyer agreed to acquire 45% stake in Trex Thairung Co., Ltd from Kyokuto Kaihatsu Kogyo Co.,Ltd. (TSE:7226) and NIPPON TREX CO.,LTD. for approximately THB 100 million on July 24, 2019. Under the terms, Kyokuto Kaihatsu Kogyo Co.,Ltd. agreed to transfer 1.6 million shares for THB 33.8 accounting for 15% stake in Trex Thairung Co., Ltd and NIPPON TREX CO.,LTD. agreed to transfer 3.3 million for THB 67.7 million accounting for 30% stake in Trex Thairung Co., Ltd. For the year ended December 31, 2018, Trex Thairung Co., Ltd reported sales of THB 87.5 million, total assets of approximately THB 580 million. Operating income of approximately THB 110 million and net assets of THB 88.7 million. The transaction is subject to shareholder approval. The transaction was resolved by the board of Kyokuto Kaihatsu Kogyo Co.,Ltd. on July 24, 2019. The transaction is expected to close on July 31, 2019.
KYOKUTO KAIHATSU KOGYO CO., LTD. is company engaged in the special-equipment vehicles business, environmental business and other businesses. The Company operates in three business segments. The Special-equipment Vehicles segment is primarily engaged in the manufacture and sale of dump trucks, tankers, tailgate lifters and garbage collectors, trailers, vans and wing body trucks, as well as the sale of pre-owned special-equipment vehicles. The Environmental segment is involved in the manufacture, sale, operation and administration of recycle facilities. The Real Estate Leasing and Others segment is engaged in the leasing of real estate, the operation of mega solar power plants and other businesses.
An unknown buyer agreed to acquire 45% stake in Trex Thairung Co., Ltd from Kyokuto Kaihatsu Kogyo Co.,Ltd. and NIPPON TREX CO.,LTD. for approximately THB 100 million.
KYOKUTO KAIHATSU KOGYO CO.,LTD. 
