MZ Solution Sells Chinese Subsidiary... "Resolving Uncertainty and Focusing on Future Businesses Based on Performance"

MGN Solution announced on the 26th that it will sell its 100% subsidiary Seongwoo Sigoo Limited Company for $6.725 million (approximately 9 billion KRW).

A company representative explained, “This decision was made considering regional uncertainties in China and the diversification of large corporate clients due to the operation of the Vietnam factory, deeming it an appropriate timing for the sale to stabilize the business.”

MGN Solution plans to maintain raw material sales to existing clients for a certain period even after the sale. Additionally, with the large influx of cash, the company intends to focus on core performance-based businesses such as the electrical and electronics sector with confirmed large corporate clients, as well as AI monitoring and fire detection solutions. Furthermore, it will expand R&D investments in AI firefighting robots and the bio sector to maximize future value.

MGN Solution’s Vietnam subsidiary, Musembina, produces transformers and inductors used in home appliances and delivers them to global home appliance companies.

Currently, additional expansion and new site acquisitions are under review. Customer registrations with global home appliance companies have been completed, and R&D discussions are ongoing for registering additional clients. R&D is also underway with global automobile companies.

MGN Solution has completed the development of AI fire detection and suppression solutions, which are being supplied to local government resource recycling centers and private factories. Recently, it also completed solutions specialized for lithium battery fires and solutions to prevent fire spread during electric vehicle charging.

The company plans to exhibit at the Waste Resource Recycling Industry Exhibition held at KINTEX in Ilsan on the 28th of this month and at the Korea International Defense Industry Exhibition scheduled for October.

A company representative stated, “We plan to secure cash liquidity and invest intensively in rapidly growing business sectors.”

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