Nakanippon Casting Co.,Ltd cancelled the acquisition of pig iron casting manufacturing business of Kyoei Foundry Co., Ltd.
March 19, 2019
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Nakanippon Casting Co.,Ltd (NSE:6439) signed a contract to acquire pig iron casting manufacturing business of Kyoei Foundry Co., Ltd. for ¥250 million on March 20, 2018. Nakanippon Casting Co.,Ltd will make the payment in cash. The pig iron casting manufacturing business reported sales of ¥582 million during the year ending March 2017. The Board of Directors of Nakanippon Casting Co.,Ltd passed a resolution for the transaction on March 20, 2018. The transaction is expected to be completed on April 1, 2018.
Nakanippon Casting Co.,Ltd (NSE:6439) cancelled the acquisition of pig iron casting manufacturing business of Kyoei Foundry Co., Ltd. on March 20, 2019.
NAKANIPPON CASTING CO., LTD is a Japan-based company mainly engaged in casting business. The Company is engaged in the manufacture and sale of casting parts such as automotive parts, hydraulic parts, general-purpose engine parts, electric parts, and pump parts. Automotive parts include continuously variable transmission (CVT) covers, carrier rear planets, and housing bearings. Hydraulic components include pump cases, valve housings, and valve casings. The vacuum pump components include side covers.