LifeSemantics Approves Merger Agreement... Succeeds as Primary Vendor of World's Largest Private Aerospace Company

Life Semantics announced on the 24th that it approved the merger agreement through an extraordinary general meeting of shareholders.

Previously, Life Semantics disclosed that it decided to absorb and merge with Spear Korea at a board meeting held on December 11 of last year. The merger date is set for March 1.

Spear Korea is the primary vendor for the world's largest private aerospace company. It is the only supplier in the Asia region of special alloys, which are key components of technically demanding rocket launch vehicles. Through this merger, Life Semantics will acquire the status of a primary vendor.

Life Semantics plans to strengthen its business capabilities by establishing a supply chain handling various parts and building facilities and equipment related to the storage, processing, and testing of raw materials through this merger.

A company representative explained, "We have completed the restructuring of our existing business," and added, "Cost reduction and profitability improvement are expected through the internalization of Spear Korea's special alloy precision processing and testing processes."

They further added, "With the merger completion in March, the recognition of Spear Korea's sales is expected to result in significant sales growth."