A-Route Completes Sale of Woojin Electric... "Deal Closing Worth 262 Billion KRW"

A-Route has successfully completed the sale of Woojin Gijeon, a ‘total energy platform’ company in the electric power sector. A-Route announced on the 3rd that its affiliate Woojin Holdings has completed the full payment of the sale price according to the stock transfer agreement for Woojin Gijeon. Although the sale price of Woojin Gijeon is 235 billion KRW, including previously received dividend income, the total deal amounts to 262 billion KRW.

Woojin Holdings signed a stock purchase agreement (SPA) on the 10th of last month with Curious Partners, a domestic private equity fund (PEF) operator, for the 100% sale of Woojin Gijeon’s shares. With the sale completed, A-Route plans to focus on fostering new businesses centered on ‘semiconductor equipment’ and ‘recycling.’

Amid the recent surge in generative artificial intelligence (AI), which has significantly increased demand for semiconductor chips and equipment, A-Route has entered the semiconductor equipment business by acquiring a strong small and medium-sized enterprise in the related field. The company acquired ‘NSRC,’ a specialist company in refurbishing ‘lithography equipment,’ a key semiconductor device.

Lithography equipment is ultra-precision machinery that engraves semiconductor circuits with light. It is used in the ‘photo process,’ one of the eight major semiconductor processes, and is regarded as the ‘core’ of semiconductor manufacturing. Company A from the Netherlands, considered a ‘super subcontractor,’ also specializes in producing lithography equipment. A-Route aims for stable performance growth through NSRC.

A-Route is also promoting an eco-friendly recycling business through its subsidiary A-Route Eco. A-Route Eco is currently constructing a large-scale ‘resource circulation plant’ near the Daesan petrochemical complex in Seosan City, Chungnam Province.

The Seosan resource circulation plant, scheduled for completion in the second half of this year, is a large-scale resource circulation facility with an annual processing capacity of up to 75,000 tons. A-Route expects that the facility will quickly generate sales after completion, enabling prompt contribution to earnings.

A company representative stated, “With the completion of the Woojin Gijeon sale, a foundation has been established to focus on new businesses,” adding, “We will create rapid results centered on new businesses through investment and build a stable performance structure.”

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