Aekyung Petrochemical Co., Ltd. agreed to acquire Aekyung Chemical Co., Ltd. for KRW 27.1 billion.
May 10, 2021
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Aekyung Petrochemical Co., Ltd. (KOSE:A161000) agreed to acquire Aekyung (Ningbo) Chemical Co., Ltd. for KRW 27.1 billion on May 11, 2021. As of December 31, 2020, Aekyung (Ningbo) Chemical Co., Ltd. reported total assets of KRW 41.87 billion, total equity of KRW 923.56 million, revenue of KRW 203.63 billion and net profit of KRW 1.04 billion. The transaction was resolved by the board of directors of Aekyung Petrochemical on May 11, 2021. The transaction is expected to close on June 28, 2021.
AekyungChemical Co Ltd formerly Aekyung Petrochemical Co Ltd is a Korea-based company mainly engaged in the petrochemical business. The Companyâs products portfolio consists of phthalic anhydrides, which are used as phthalate plasticizers, unsaturated polyester resins and dye intermediates; maleic anhydrides, which are used for unsaturated polyester resins for housing units and automobiles, fumaric acids for food and succinic acid; itaconic acids, which are produced through the fermentation of sugar millets or starches; plasticizers, which are organic ester compounds used for leathers, seats, polyvinyl chloride (PVC) films and electrical wires, and ester polyols. It also involves in the provision of alcohols and messaging services. The Company distributes its products within domestic market and to overseas markets.
AEKYUNGCHEMICAL CO., LTD. 
