S&K Polytec Co., Ltd. cancelled the acquisition of Alti-electronics Co. Ltd.
July 13, 2016
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S&K Polytec Co., Ltd. (KOSDAQ:A091340) signed a memorandum of understanding to acquire Alti-electronics Co. Ltd. for KRW 16.04 billion on July 14, 2015. S&K Polytec was selected as the preferred bidder. S&K Polytec Co., Ltd is in the process of evaluation, but signing of the formal contract, actual date, and details have not been confirmed yet. The deal is expected to be completed by November 30, 2015. As of November 13 2015, the settlement date was extended to November 20, 2015. As of November 19, 2015, the settlement date was extended to January 30, 2016.
S&K Polytec Co., Ltd. (KOSDAQ:A091340) cancelled the acquisition of Alti-electronics Co. Ltd. on July 14, 2016.
S&K POLYTEC CO., LTD. is a Korea-based company mainly engaged in the production and provision of high density polyurethane foam sheets. The Company produces high density foam sheets used as shock absorbing materials, sealing materials, gasket materials, packing materials and cushioning materials for mobile phones, light crystal displays (LCDs), computer peripherals, consumer electronics, sport equipment, medical supplies and others under the brand name of NANOCELL. The Company distributes its products within domestic market and to overseas markets.