Dongsung Holdings Co Ltd. cancelled the acquisition of an additional 2.59% stake in Finetec Corporation.
June 15, 2012 at 12:00 am
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Dongsung Holdings Co Ltd. (KOSE:A102260) agreed to acquire an additional 2.59% stake in Finetec Corporation (KOSE:A033500) for KRW 2.9 billion on June 15, 2011. Dongsung Holdings will acquire 0.7 million shares, representing 2.59% stake at KRW 4113 per share. Post transaction, Dongsung Holdings will hold 34.61% stake in Finetec. The Board of Directors of Dongsung Holdings resolved the deal on June 15, 2011. The deal is expected to complete by June 27, 2011.
Dongsung Holdings Co Ltd. (KOSE:A102260) cancelled the acquisition of an additional 2.59% stake in Finetec Corporation (KOSE:A033500) on June 15, 2012.
DONGSUNG FINETEC CO., Ltd, formerly FINETEC CORP, is a Korea-based company mainly engaged in the manufacture of polyurethane (PU) heat insulation materials. The Company operates in two business segments: PU heat insulation materials segment and gas segment. Its PU heat insulation materials segment manufactures PU systems, cryogenic insulation materials and sandwich panels, which are used as heat insulation materials for household appliances, industrial liquefied natural gas (LNG) and construction under the brand name FINEpol, FINEcover and others. Its gas segment manufactures seamless gas cylinders (SGCs), fire protection systems and refrigerants under the brand name FINEXG, FINEGAS and others. It also involves in the real estate rental business. The Company distributes its products within domestic market and to overseas markets.
DONGSUNG FINETEC CO., LTD. 
