[Asia Economy Reporter Minji Lee] TIRAYUTECH announced on the 15th that it has decided to spin off its China robot business and Corporate Research Institute II division into a newly established company through a physical division. The name of the newly established company is TIRA Robotics, and its main business is the manufacturing of automatic control devices.
The company explained, "The spin-off company will be established by dividing the business division subject to the spin-off, and the spin-off company will hold 100% of the issued shares of the newly established company while the spin-off company continues to exist. The spin-off surviving company will remain a listed corporation, while the newly established company will be an unlisted corporation."
Meanwhile, the company plans to hold an extraordinary general meeting of shareholders on the 28th of next month to approve the spin-off plan.
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