Cheil Grinding Wheel Ind. Co., Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
October 25, 2023 at 11:44 pm EDT
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Cheil Grinding Wheel Ind. Co., Ltd. (KOSE:A001560) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a trust contract with NH Investment & Securities Co., Ltd. The purpose of the program is to stabilize stock price and uplift the value of shareholders.
The program will expire on October 25, 2024. As of October 25, 2023, the company had 3,074,700 shares in treasury within scope available for dividend and had no shares in treasury under other capacities.
CHEIL GRINDING WHEEL IND, CO., LTD. is a Korea-based company engaged in the manufacture of grinding wheel products. The Company's products are consist of resin bonded abrasive wheels, including cut-off wheels, mini cut-off wheels, circular saw wheels, chopsaw wheels, stationary machines, electric saw wheels, and roll grinding wheels used for grinding and cutting of metal and nonferrous metal products; vitrified bonded abrasive wheels, such as cylindrical grinding wheels, mounted point wheels, center less grinding wheels, crankshaft grinding wheels and camshaft grinding wheels used for processing engines and bear rings of automobiles, ships and airplanes, as well as cubic boron nitride (CBN) grinding wheels, rubber regulating abrasive wheels and others.