Bitsrosis Decides on No-Share Capital Merger with Water Treatment Specialist Sangrim ENG

Global smart city solution company Bitsrosis announced on the 25th that it will merge with water treatment environment specialist Sangrim ENG.

This merger is an absorption merger (small-scale merger) method as Bitsrosis owns 100% of the shares of the merger target company Sangrim ENG, and it will proceed as a non-capital increase merger without issuing new shares.

Bitsrosis is recovering its contracted business through past corporate rehabilitation. The company has operated in water treatment, traffic system construction, and power monitoring and control fields based on surveillance control and monitoring system solutions.

Sangrim ENG, with 23 years of experience, is a specialized company in the water treatment sector of the environmental infrastructure business. It supplies key products such as instrumentation control devices and smart remote metering devices to Korea Water Resources Corporation, Korea Rural Community Corporation, nationwide water and sewage offices, and various local governments. It has also been designated as a promising company for overseas procurement markets by the Public Procurement Service and has obtained multiple excellent product certification certificates from the Ministry of SMEs and Startups and the Public Procurement Service, demonstrating its technological competitiveness.

Sangrim ENG’s smart remote metering is a terminal device that communicates with digital water, electricity, and gas meters at water and sewage treatment plants to measure usage. It stores hourly data and transmits metering data via IoT wireless communication.

Bitsrosis plans to actively invest in the smart remote metering water meter business being developed by Sangrim ENG through this merger, aiming to increase sales in the environmental business sector to about 50 billion KRW by 2025. Additionally, it is discussing expanding Sangrim ENG’s environmental business overseas, including entry into Indonesia and Bangladesh.

A company representative said, “We expect to secure management efficiency and strengthen business competitiveness based on synergy effects through this merger,” adding, “Through this, we will also realize the enhancement of corporate and shareholder value.”

This content was produced with the assistance of AI translation services.