Young Heung Iron & Steel Co., Ltd. agreed to acquire an additional 65% stake in Han Young Steel Wire Co.,Ltd. for KRW 4 billion.
March 15, 2020
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Young Heung Iron & Steel Co., Ltd. (KOSE:A012160) agreed to acquire an additional 65% stake in Han Young Steel Wire Co.,Ltd. for KRW 4 billion on March 16, 2020. As per the terms, consideration will be payable in cash and Young Heung Iron & Steel will acquire 0.39 million shares. The Board of Young Heung Iron & Steel has resolved the transaction. The transaction is expected to be completed on April 12, 2020.
YoungWire Co Ltd, formerly Young Heung Iron & Steel Co Ltd, is a Korea-based company engaged in the manufacturing of steel products. The Companyâs products consist of wire ropes, such as cross laid wire ropes, parallel laid wire ropes, non-rotating ropes, compacted wire ropes, swaged wire ropes, elevator wire ropes and others; wires, cables, low relaxation (LR) strands, prestressed concrete (PC) steel strands and cold drawn steel bars. In addition, the Company also produces automobile parts, such as coil springs and leaf springs. It also engages in the logistics business such as unloading, road freight, and transportation, as well as eco-friendly antirust packaging materials business. The Company distributes its products within domestic market and to overseas markets.
YOUNGWIRE CO., LTD. 
