Yancheng Dongkook Auto Parts Co., Ltd. announced that it has received KRW 10.66 billion in funding from Dongkook Ind. Co., Ltd.
April 15, 2014 at 12:00 am
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Yancheng Dongkook Auto Parts Co., Ltd. announced that it will receive KRW 10,661,000,000 in a round of funding from existing investor, Dongkook Ind. Co., Ltd. on April 2, 2014. The investor will continue to hold 100% stake in the company. The scheduled investment date for the transaction is April 15, 2014. On the same date, the transaction was approved by the board of directors of the investor. The company reported total assets of KRW 88,482,000,000, total stockholders' equity of KRW 38,560,000,000, total sales revenue of KRW 138,910,000,000, and net profit of KRW 11,133,000,000 for the year 2013.
On April 15, 2014, Yancheng Dongkook Auto Parts Co., Ltd. closed the transaction.
KBI DONGKOOK IND CO., LTD, formerly DONGKOOK IND.CO., LTD, is a Korea-based company mainly engaged in the manufacture of automobile components. The Company's products consist of injection molding products such as crash pads reinforcements, front carrier assemblies, console floor assemblies, glove box assemblies, cluster facia assemblies, shroud steering, washing tank assemblies and nozzle defroster assemblies; blow molding products such as blow heater connection assemblies, which are used for air conditioners and heaters, and luggage board assemblies used for loading products in car trunks. The Company is also engaged in the rental business and construction business. It supplies its products within domestic market and to overseas markets.