 |
Photo = SMEC |
[Alpha Biz= Reporter Kim Sangjin] SMEC, a company specializing in machine tools and robotic automation solutions, is pursuing the acquisition of Hyundai Wia's machine tool division, which has long been considered a 'pain point' for the company.
Hyundai Wia is set to sell the division for the first time since it was established by Kia Machinery (the former name) in 1976, marking nearly 48 years of operation.
According to investment banking sources on the 30th, SMEC has recently emerged as a leading candidate for the acquisition and is in discussions with the selling party. Samjong KPMG is acting as the advisor for the sale.
Established in 1989, SMEC began as a manufacturer of machine tools and industrial robots, rooted in Samsung Heavy Industries' machine tool division.
Hyundai Wia, a subsidiary of the Hyundai Motor Group focusing on vehicle parts and machine tools, selected a sale advisor in July and has initiated the process of a carve-out sale.
Other bidders in this auction include Glenwood Private Equity, a domestic private equity firm, in addition to SMEC. Reports indicate that SMEC is participating in the bid in collaboration with financial investors. The sale price is rumored to be below 300 billion KRW.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
