STARFLEX Co., Ltd. acquired an additional 46.88% stake in Star Chemical Co.,Ltd. for KRW 33.6 billion.
January 17, 2013 at 11:00 pm EST
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STARFLEX Co., Ltd. (KOSE:A115570) acquired an additional 46.88% stake in Star Chemical Co.,Ltd. for KRW 33.6 billion in cash on January 18, 2013. STARFLEX acquired 3 million shares of Star Chemical Co.,Ltd. and increased its stake to 5.8 million. As of year ending December 31, 2012, Star Chemical had total assets of KRW 106.3 billion, total common equity of (KRW 6.3 billion), sales of KRW 156.7 billion and net loss of KRW 27.2 billion. The transaction was resolved by the Board of STARFLEX Co., Ltd on January 18, 2013.
STARFLEX Co., Ltd. (KOSE:A115570) completed the acquisition of an additional 46.88% stake in Star Chemical Co.,Ltd. on January 18, 2013.
StarFlex Co., Ltd. is a Korea-based company engaged in the manufacturing of the polyvinyl chloride (PVC) flex products for advertising industry. The Company's products portfolio consists of backlit flex banners, front lit flex banners, block out flex banners, self adhesive banners, coated flex banners, solit banners and textile banners, which are used in digital printing, billboards, building murals and in-store displays. The Company distributes its products within domestic market and to overseas marekts, such as Asia, North America, Central and South America, Europe, the Middle East and Africa. As of December 31, 2011, the Company had three affiliated companies. On January 18, 2013, the Company acquired additional shares of STAR CHEMICAL CO. LTD, which is mainly engaged in the manufacturing of chemical fiber. After the acquisition, it held 90.63% stake in STAR CHEMICAL CO. LTD.
STARFLEX CO., LTD. 
