Posco M-Tech Co., Ltd. acquired the remaining 10.46% stake in Reco Metal Co., Ltd. from Jin-Sung Bae for approximately KRW 200 million.
October 31, 2012 at 12:00 am EDT
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Posco M-Tech Co., Ltd. (KOSE:A009520) acquired the remaining 10.46% stake in Reco Metal Co., Ltd. from Jin-Sung Bae for approximately KRW 200 million on October 23, 2012. Posco M-Tech acquired approximately 2.48 million shares of Reco Metal at a price of KRW 80 per share.
Posco M-Tech Co., Ltd. (KOSE:A009520) completed the acquisition of the remaining 10.46% stake in Reco Metal Co., Ltd. from Jin-Sung Bae on October 23, 2012.
POSCO M-TECH CO.,LTD. is a Korea-based company mainly engaged in the provision of steel raw materials and packing materials. The Company operates its business through four divisions: steel raw materials division, packing business division, engineering business division and magnesium division. Its steel raw materials division provides aluminum ingots, pellets, mini-pellets, molybdenum briquette and ferro-molybdenum. Its packing business division provides packaging materials, packaging services and packing equipment. Its engineering division distributes packaging equipment, such as steel coil packaging lines, steel sheet dispensers, strap masters, outer-ring molders, steel automatic attaching facilities and others. Its magnesium division operates magnesium smelting factories. The Company also involves in the real estate rental business.
POSCO M-TECH CO., LTD. 
