Woojin Inc. acquired 65% stake in SVC Inc. for KRW 7 billion.
October 01, 2013 at 12:00 am
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Woojin Inc. (KOSE:A105840) acquired 65% stake in SVC Inc. for KRW 6.9 billion in cash on October 1, 2013. Woojin acquired 64,969 shares of SVC Inc. in the transaction. SVC had total assets of KRW 34.57 billion, total liabilities of KRW 21.22 billion, total stockholders' equity of KRW 13.35 billion, sales of KRW 26.35 billion and net profit of KRW 747 million in 2012. The transaction was resolved by the Board of Directors of Woojin Inc.
Woojin Inc. (KOSE:A105840) completed the acquisition of 65% stake in SVC Inc. on October 1, 2013. As on November 4, 2013, Woojin amended the transaction amount to KRW 7 billion.
WOOJIN INC. is a Korea-based company engaged in the manufacture of industrial measuring equipment. Its products consist of measuring machines for nuclear power plants, including in-core instruments (ICIs), read switch position transmitters (RSPTs), heated junction thermocouples (HJTCs)and others; automation equipment, automatic temperature measurement systems (ATMSs), slag layer measurement devices and other automatic measuring machines used in steel production sites; condition monitoring systems (CMSs); temperature sensors, used in nuclear power, semiconductor, petrochemical, airline, ship construction and genetic engineering sectors; flowmeters, including vortex type and thermistor type, and materials. On March 12, 2013, the Company acquired additional shares of a Korea-based company. After the transaction, the Company holds 66.67% stake in the Korea-based company. On October 1, 2013, it acquired a 65% stake in SVC Inc.
WOOJIN INC. 
