Posco Chemtech Company, Ltd. (KOSE:A003670) signed an agreement to acquire remaining 13.13% stake in Poscalcium Co., Ltd. from Seokyung Industrial Co., Ltd for approximately KRW 27.1 million on October 29, 2012. Under the terms, Posco Chemtech Company, Ltd. will acquire 0.04 million shares for KRW 775 per share. Posco Chemtech Company, Ltd. will not issue new shares and will pay grant. Post acquisition, Poscalcium Co., Ltd. will be dissolved.

For the year ending December 31, 2011, Poscalcium Co., Ltd. had total assets of KRW 8.4 billion, stockholders equity of KRW 1.4 billion, revenue of KRW 106 million, operating loss of KRW 1.02 billion, net loss of KRW 1.35 billion. The deal is subject to approval by board of directors of Posco Chemtech Company, Ltd. and Poscalcium Co., Ltd. on November 27, 2012. The date for announcement of submission of objections from creditors is November 27, 2012 and period of submission of objections from creditors is from November 28, 2012 to December 27, 2012. The deal was resolved by board of Directors on October 29, 2012. The deal is expected to complete on January 3, 2013.

Posco Chemtech Company, Ltd. (KOSE:A003670) completed the acquisition of remaining 13.13% stake in Poscalcium Co., Ltd. from Seokyung Industrial Co., Ltd on January 3, 2013.