Paratech Selected as Maintenance Contractor for Samsung Electronics Semiconductor Plant... "Securing Stable Revenue"

[Asia Economy Reporter Yoo Hyun-seok] Paratech, the nation's No. 1 fire protection specialist company, announced on the 4th that it has been selected as the annual unit price contract company for the maintenance of fire protection equipment (mechanical and electrical) at Samsung Electronics' Giheung and Hwaseong complexes.

Accordingly, Paratech will carry out fire-related maintenance work occurring at Samsung Electronics' Giheung and Hwaseong complexes for the next year.

Samsung Electronics' Giheung and Hwaseong campuses are the world's largest single-scale integrated semiconductor complexes, covering approximately 900,000 pyeong. The Giheung campus began operations in 1983, and the Hwaseong campus started in 2001.

A Paratech official said, "Since maintenance work occurs continuously, through this annual unit price contract, we have secured a stable revenue source worth about 7 billion KRW in the future," adding, "It is highly meaningful that Paratech has been recognized as a comprehensive construction management company capable of performing everything from fire protection equipment installation to maintenance."

Paratech plans to expand its business scope not only to the maintenance of fire mechanical equipment but also to the maintenance of fire electrical equipment based on this contract.

Fire mechanical equipment refers to facilities such as sprinklers and fire extinguishing gas systems used for fire suppression, while fire electrical equipment refers to facilities related to fire detection and alarms, emergency broadcasting, and evacuation.

Meanwhile, Paratech, which had its trading suspended from the 13th of last month due to a stock par value split and resumed trading from the 3rd, announced that 6,557,377 new common shares will be issued through a third-party allotment paid-in capital increase.

Paratech plans to use the approximately 20 billion KRW raised through this paid-in capital increase for operating funds and the acquisition of securities of other companies.