Nexten Bioscience Acquires Management Rights of 'Roll Korea'... Moves to Strengthen Profitability

[Asia Economy Reporter Jang Hyowon] Nexten Bioscience announced on the 16th that it has signed a stock purchase and management rights transfer agreement worth approximately KRW 13.4 billion with Roll Korea to improve profitability through strengthening core business competitiveness and diversifying its business.

The company completed the payment of a KRW 1 billion contract deposit and KRW 7 billion interim payment starting with the signing of a memorandum of understanding with Roll Korea, and plans to pay the remaining KRW 5.4 billion on the expected closing date of July 1.

With this contract, Nexten Bioscience will acquire management rights of Roll Korea and secure a 79.00% stake (47,520 shares), becoming the largest shareholder.

Roll Korea, established in 1998, is a steel manufacturing company engaged in industrial equipment and steel plate manufacturing businesses. It has built a sound financial structure over its long history and is recognized for having a solid supply chain centered on large corporations. In 2021, it recorded sales of approximately KRW 26.2 billion, higher than competitors, and a net profit of KRW 930 million. In 2020, it posted sales of about KRW 23 billion and a net profit of KRW 610 million, indicating stable revenue generation.

A Nexten Bioscience official said, “After thorough review for the acquisition of Roll Korea, we judged that its financial soundness, industrial stability, and future profitability are high, leading to this contract. We expect to effectively generate profits through synergy with our core business once the acquisition is completed.”