Aju Industry Strengthens Competitiveness Through Demerger

[Asia Economy Reporter Kim Jong-hwa] Ajou Industrial is strengthening its competitiveness through a spin-off. On the 30th, according to Ajou Industrial, the company recently held a board meeting and decided to spin off into the existing investment division, Ajou Co., Ltd., and the newly established building materials division, Ajou Industrial Co., Ltd.

Regarding the purpose of the spin-off, Ajou Industrial stated, "The newly established company, Ajou Industrial Co., Ltd., will focus on the building materials business division to facilitate concentrated investment and management of core businesses, strengthen the responsible management system, and enhance corporate value and shareholder value."

Ajou Industrial has been engaged in the building materials business, including ready-mixed concrete, for over 60 years, while also serving as the parent company of various affiliates within the Ajou Group. Given the current growth in each sector, it is a timely moment for new changes to ensure the continuous growth of the building materials business.

Ajou Industrial is a building materials specialized company producing and selling ready-mixed concrete, PHC piles, aggregates, and more. It is the parent company of the Ajou Group, which includes affiliates in venture capital, automobile distribution, hotels, IT, and other sectors.

A company official related to the investment division, Ajou Co., Ltd., said, "We will focus on managing subsidiaries and new investments to pursue management efficiency and risk diversification, and establish a corporate governance structure for long-term growth," adding, "Each organization will clearly distinguish its specialties and maximize its competitiveness."