Daido Kogyo Co. Ltd. completed the acquisition of 52% stake in Interface Solutions Co., Ltd from Louie Lin Chi Chen, Lin Wei, Li-Chu, Takeshi Yamamoto and Clarence Tay Boon Keat.
September 28, 2012 at 12:00 am
Share
Daido Kogyo Co. Ltd. (TSE:6373) agreed to acquire 52% stake in Interface Solutions Co., Ltd from Louie Lin Chi Chen , Lin Wei, Li-Chu, Takeshi Yamamoto and Clarence Tay Boon Keat for THB 140 million on May 11, 2012. Daido Kogyo Co. Ltd will acquire 0.05 million shares of Interface Solutions Co., Ltd. After the transaction, Interface Solutions Co., Ltd. will operate as a subsidiary of Daido Kogyo Co. Ltd.
Interface Solutions Co., Ltd reported net assets of THB 138.97 million, total assets of THB 280.27 million, sales of THB 410.27 million, operating profit of THB 32.7 million, current profit of THB 32.3 million and net income of THB 19.12 million for the year ending February 2012. The Board of Directors of Daido Kogyo Co. Ltd passed a resolution for the transaction on May 11, 2012. Daido Kogyo Co. Ltd will receive the share certificates on August 31, 2012.
Daido Kogyo Co. Ltd. (TSE:6373) completed the acquisition of 52% stake in Interface Solutions Co., Ltd from Louie Lin Chi Chen, Lin Wei, Li-Chu, Takeshi Yamamoto and Clarence Tay Boon Keat on September 28, 2012.
DAIDO KOGYO CO., LTD. is a machinery manufacturing company. Along with its subsidiaries and associated companies, the Company is engaged in the manufacture and sale of power transmission and transportation-related products, such as chains and conveyers; rim and wheel-related products, such as rims, wheels, spokes and bolts; the Other products, such as welfare equipment and office machinery in Japan, China, Indonesia, Thailand, Vietnam, India, the United States, Brazil and Italy. Through its subsidiaries, the Company is also engaged in the processing and sale of steels, the purchase of related materials, the sale of chains, the provision of welfare services, as well as the repair and maintenance of facilities, among others.
Daido Kogyo Co. Ltd. completed the acquisition of 52% stake in Interface Solutions Co., Ltd from Louie Lin Chi Chen, Lin Wei, Li-Chu, Takeshi Yamamoto and Clarence Tay Boon Keat.
DAIDO KOGYO CO., LTD. 
