GS Construction Acquires Polish Housing Module Company for 180 Billion KRW (Breaking News)

[Asia Economy Reporter Donghyun Choi] GS Engineering & Construction has invested 180 billion KRW to acquire a Polish housing module company.

GS Engineering & Construction announced on the 21st that it has agreed to acquire all business operations, including assets, liabilities, contracts, and other rights related to the prefabrication housing business of Danwood Holding S.A. The acquisition price is approximately 179.9 billion KRW.

GS Engineering & Construction stated, "Danwood Holding S.A is a company that, based on cost competitiveness of production in Poland, supplies detached houses not only domestically but also to markets in Germany, the United Kingdom, Switzerland, and Austria, possessing an export model." They added, "As of 2018, it is the company with the number one market share in the turnkey prefabrication housing market in Germany."