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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Hyundai Wia announced on the 10th that it plans to sell its machine tool business segment for approximately 340 billion won.
The company stated, "We have selected the consortium of Rilson Private Equity and SMAC as the preferred negotiation partner for this transaction," and added that "specific terms of the deal are currently under discussion, with the expected sale amount being around 340 billion won for the entire machine tool business segment."
Founded in 1976 as Kia Machinery, the company changed its name to Kia Heavy Industries in 1996 and then to Wia in 2000 before becoming part of the Hyundai Motor Group in 2002. After acquiring the machine tool division from Hyundai Motor in 2005, it rebranded itself as Hyundai Wia in 2009. According to the company, its machine tool segment generated sales of 207.3 billion won in the first half of this year, accounting for approximately 4.7% of total revenue.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
