Cenit Co. Ltd acquired 24% stake in Visual Shower Co., Ltd. for KRW 2.8 billion.
January 21, 2016 at 11:00 pm EST
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Cenit Co. Ltd (KOSDAQ:A037760) acquired 24% stake in Visual Shower Co., Ltd. for KRW 2.8 billion in cash on January 22, 2016. For the period ended December 31, 2015, Visual Shower reported total assets of KRW 2.51 billion, total liabilities of KRW 520 million, sales of KRW 20 million and net loss of KRW 1.13 billion.
Cenit Co. Ltd (KOSDAQ:A037760) completed the acquisition of 24% stake in Visual Shower Co., Ltd. on January 22, 2016.
Cenit Co., Ltd., together with its subsidiary, is a Korea-based company engaged in the manufacture of ready-mixed concretes (Remincons) and stainless steel plates. The Company mainly provides stainless steel plates, which are used in machine equipment, power generation equipment, industrial equipment, automobiles, electronics and others. It also engages in the operation of movie theaters. Through its subsidiaries, the Company is engaged in the manufacture and sales of Remincons, and canned kimchi, a kind of Korea pickles. On September 1, 2013, it merged with DaejeonGaoCinema Co.,Ltd., a Korea-based company mainly engaged in the real estate rental and supply business. After that, DaejeonGaoCinema Co.,Ltd. was dissolved.
CENIT CO., LTD 
