[Asia Economy Reporter Hyunseok Yoo] Wellbiotech announced on the 2nd that it has completed the acquisition of shares in Geumyoung ENG and will officially start its cleanroom and dry room business.
A company official stated, "We finalized the acquisition by completing the stock transfer contract for Geumyoung ENG using the funds secured through the issuance of convertible bonds on the 26th of last month," adding, "Through Geumyoung ENG, which has become a 100% subsidiary, we plan to further expand the industrial cleanroom facilities essential for the semiconductor and IT industries, as well as dry room facilities essential for secondary battery manufacturing processes."
In August of last year, Wellbiotech signed a stock transfer contract worth a total of 35 billion KRW to acquire 50,000 shares (100% stake) and management rights of Geumyoung ENG.
Founded in 2007, Geumyoung ENG is a total solution company that provides everything from design to manufacturing and construction of air conditioning facilities such as cleanrooms and dry rooms. Based on accumulated technology and skilled professionals, it constructs core facilities applied in various industries including semiconductors, secondary batteries, IT, and bio. It also installs bio cleanrooms (BCR), medical negative pressure infection prevention facilities, in numerous hospitals and medical institutions.
CEO Sehyun Koo said, "Geumyoung ENG possesses outstanding technological capabilities in the field of cleanroom and dry room facility construction," and added, "Due to the recent semiconductor supercycle increasing demand for semiconductor process facilities and the visible advent of the electric vehicle era boosting demand for secondary battery process facilities, high growth is expected this year."
He continued, "Growth of the company is expected to become visible with increased orders in Eastern European markets such as Poland and Hungary, as well as Asian markets including Vietnam and China."
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