Dongil Steel and Daeseon Shipbuilding signed a main contract for acquisition… Entering the shipbuilding industry
On the 29th, Daesun Shipbuilding Headquarters signed a contract for acquisition
Dongwon Housing, Dongil Suite, etc. participated in the acquisition consortium
Reporter Kim Young-han [email protected]
Input: 2020-12-29 11:45:35Revision: 2020-12-29 14:10:14Posted: 2020-12-29 14:04:02
Dongil Steel Co., Ltd., a Busan steel company, formed a consortium with local companies and signed a main contract to acquire Daeseon Shipbuilding. Daeseon Shipbuilding Yeongdo Factory. Daeseon Shipbuilding
Dongil Steel Co., Ltd., a steel company headquartered in Busan, formed a consortium with local companies on the 29th to successfully acquire Daeseon Shipbuilding Co., Ltd., a small and medium-sized shipyard, and entered the shipbuilding industry. Local companies such as Dongwon Housing Co., Ltd., Dongwon General Trading Co., Ltd., Sewoon Steel Co., Ltd., and Dongil Suite Co., Ltd. participated in the consortium for the first time.
Dongil Steel signed a main contract for the acquisition of Daeseon Shipbuilding at the headquarters of Daeseon Shipbuilding in Yeongdo-gu, Busan at 2 pm on the same day. Dongil Steel was selected as the preferred negotiator by participating in the bid for the sale of Daeseon Shipbuilding held in October this year. After signing a memorandum of understanding (MOU) in November, the contract was signed on that day.
An official from Dongil Steel explained, “From the second half of next year, the global shipping market and shipbuilding industry are expected to recover in earnest, and we have acquired Daeseon Shipbuilding to advance into the shipbuilding industry, and we plan to continue maintaining the shipbuilding industry after taking over Daeseon Shipbuilding.”
It is known that Dongil Steel has formed a consortium to take over Daeseon Shipbuilding, but the face of the consortium participating companies was also disclosed for the first time in this contract. Dongwon Housing Co., Ltd. Dongwon General Trading Co., Ltd., Sewoon Steel Co., Ltd., and Dongil Suite Co., Ltd. participated in the consortium of Dongil Steel’s acquisition of Daesun Shipbuilding, and Dongil Steel Co., Ltd. owns 46% of the shares in the consortium.
As a result, Daeseon Shipbuilding was taken over by local merchants 10 years after signing a voluntary agreement with creditors in 2010 after suffering management difficulties, giving it an opportunity to explore new ways.
It is noteworthy that Dongil Steel’s acquisition of Daesun Shipbuilding was made only by SI (strategic investor) without FI (financial investor). The view of the local shipbuilding industry and others is that these acquired companies will participate in the management of Daesun Shipbuilding and will continue to maintain the shipbuilding industry and employment. An official from Dongil Steel said, “By joining local companies to take over Daesun Shipbuilding, it will help save the slumped local economy and help maintain employment and recover the shipbuilding industry.”
Reporter Kim Young-han [email protected]