[Asia Economy Reporter Hyungsoo Park] EN Corporation is showing strong performance. The news that its subsidiary Eclean Water has finalized the business transfer contract for EN Chemical's Dangjin plant, which holds comprehensive permits for intermediate disposal of designated waste and entrusted wastewater treatment, appears to have influenced the stock price.
As of 9:44 AM on the 9th, EN Corporation is trading at 11,900 KRW, up 8.68% from the previous trading day.
The EN Chemical Dangjin plant holds one of the highest levels of permits for waste and entrusted wastewater treatment in South Korea. With recent facility expansions completed, it can process 40,000 tons of waste and 65,000 tons of wastewater annually based on permit capacity.
EN Corporation acquired Hanseong Cleantech, an EPC company specializing in pure and ultrapure water treatment facilities, in March, and in April acquired Inbiotek's Dangjin plant, a company specializing in waste recycling, intermediate disposal, and entrusted wastewater treatment. By acquiring the EN Chemical Dangjin plant, EN Corporation has established the nation's top industrial water treatment platform. Subsidiary sales are reflected in EN Corporation's consolidated financial results.
Hanseong Cleantech, EN Corporation's EPC subsidiary, recorded orders worth 99.6 billion KRW from the beginning of this year through last month, a 46% increase compared to the same period last year. This amount is 99% of last year's total order volume. Hanseong Cleantech plans to enter the stable and large market of O&M, linked to its main business area of water treatment EPC.
An EN Corporation official stated, "With the business transfer of EN Chemical's Dangjin plant, we have successfully entered the water treatment business."
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