Cosmo Chemical Co., Ltd. acquired 30% stake in Maruman Korea Co., Ltd. from Maruman & Co., Ltd. for KRW 4.3 billion.
March 11, 2014 at 12:00 am EDT
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Cosmo Chemical Co., Ltd. (KOSE:A005420) acquired 30% stake in Maruman Korea Co., Ltd. from Maruman & Co., Ltd. (JASDAQ:7834) for KRW 4.3 billion on March 11, 2014. Maruman & Co., Ltd. will sell 1.84 million shares and will reduce its holding to 0.61 million shares in Maruman Korea Co., Ltd. Board of Directors of Maruman & Co., Ltd. made a resolution in favor of the transaction on March 11, 2014.
Cosmo Chemical Co., Ltd. (KOSE:A005420) completed the acquisition of 30% stake in Maruman Korea Co., Ltd. from Maruman & Co., Ltd. (JASDAQ:7834)on March 11, 2014.
COSMO CHEMICAL CO., LTD. is a Korea-based company mainly engaged in the manufacture of titanium dioxides. The Company produces titanium dioxides, which are used in rubbers, papers, resins, paints, bricks, electronic components, multi layer ceramic capacitors (MLCCs), catalysts and others under the brand name COTIOX KA-100 and COTIOX KA- 300. It also provides cobalt sulfates, including liquid cobalt sulfates, solid cobalt sulfates and cathode coppers, which are used for secondary lithium batteries, paint desiccants, cobalt pigments, tire bonds, electricity and communication cables, construction materials and others; water treatment agents, such as ferrous sulfates, poly ferric sulfates, liquid ferrous sulfates, gypsums and others, which are used in wastewater treatment agents, construction materials and other industries. The Company distributes its products within domestic market and to overseas markets.