Korea Trade Investment Promotion Agency (KOTRA:President and CEO, Kwon Pyung-Oh) is striving hard to help enterprises strike M&A deals even in the time of the coronavirus crisis. With the support of the investment agency recently, one of chemical companies, Kyung-in Synthetic Corporation (KISCO) headquartered in Korea, was able to successfully acquire part of business ownership of an Australia- based entity, Boron Molecular, (BM). The consolidation is set to allow them to pave the way for gaining growth momentum, further enhancing capacity in materials technology for electronics.
KISCO, the largest producer of dyes and chemical solutions in Korea, has recently expanded into new fields of material sciences such as display, semiconductor and flexible screens, based upon their organic synthesis engineering. Over the course of partnership deal reached between KISCO and BM, spun out of the Commonwealth Scientific and Industrial Research Organization (CSIRO), Australia’s national science agency, to give a patented license for commercial use of a suite of its advanced material technologies, KOTRA stepped in to help make progress in investment.
In the wake of on-site investigation conducted before entering into the proposed transaction in January, KISCO finally closed the deal, joining several rounds of negotiations online with its counterpart. The contract signing ceremony was held, using a web cam on Jul 9.
Head of KOTRA’s Invest KOREA, Chang Sang-Hyun, said “We’ll keep working on giving a leg up to businesses so as to ensure successful M&A transactions, necessary steps for companies particularly in materials, parts and equipment industries to stay competitive during the pandemic.”
Source : KOTRA (2020.07.20)