Wooriro Optical Telecom Co., Ltd. completed the acquisition of CJS Co., Ltd. from Fsteps Co., Ltd. and Jang-Soo Kim.
February 10, 2015 at 04:00 am
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Wooriro Optical Telecom Co., Ltd. (KOSDAQ:A046970) entered into contract to acquire CJS Co., Ltd. from Fsteps Co., Ltd. and Jang-Soo Kim for KRW 6.3 billion on December 30, 2014. 0.14 million shares of CJS Korea will be transacted. Jang-Soo Kim will sell 0.12 million shares and Fsteps Co., Ltd. will sell 0.02 million shares. Wooriro Optical Telecom Co., Ltd will deposit KRW 1.89 billion on December 30, 2014 and will pay KRW 4.41 billion on February 10, 2015. During the year ended December 31, 2013, CJS Co., Ltd. had total assets of KRW 9.94 billion, total stockholders' equity of KRW 3.7 billion, sales of KRW 17.46 billion, operating profit of KRW 588 million and net profit of KRW 617 million. Board of Directors of Wooriro Optical Telecom Co., Ltd. made a resolution in favor of the transaction on December 30, 2014. The transaction is expected to close on February 10, 2015. PricewaterhouseCoopers Korea acted as external evaluation company.
Wooriro Optical Telecom Co., Ltd. (KOSDAQ:A046970) completed the acquisition of CJS Co., Ltd. from Fsteps Co., Ltd. and Jang-Soo Kim on February 10, 2015.
WOORIRO CO., LTD, formerly WOORIRO OPTICAL TELECOM CO., LTD is a Korea-based company engaged in the manufacture of optical components for communication industry. The Company operates its business through two segments. The Optical Communication Business segment produces planar lightwave circuit (PLC) splitters including PLC wafers, PLC chips, PLC modules and others. The segment also manufactures photodiodes. The System Integration (SI) Business segment sells data storage devices.