Hanwha to split into 2 holding firms through spin-off
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Hanwha Corp., the holding firm of Hanwha Group, will spin off its machinery and services businesses into a separate holding company to strengthen expertise across its business lines, the conglomerate said Wednesday. It will also cancel treasury shares worth 456.2 billion won ($308.7 million) to improve shareholder value. The Hanwha Corp. board approved the plan during a meeting Wednesday. The plan will be voted on during an extraordinary shareholder meeting in June, and the spin-off is expected to be completed by July. According to the plan, the new holding firm will be named Hanwha Machinery & Service Holdings, controlling the group's tech and life service affiliates. Tech affiliates include Hanwha Vision, Hanwha Momentum, Hanwha Semitech and Hanwha Robotics, while life service firms include Hanwha Galleria, Hanwha Hotels & Resorts and Ourhome. Hanwha Corp. will maintain its control on its defense and heavy industry units, including Hanwha Aerospace, Hanwha Ocean and Hanwha Systems. Financial affiliates such as Hanwha Life Insurance, Hanwha General Insurance and Hanwha Investment & SecuWeiter zum vollständigen Artikel bei Korea Times
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Quelle: Korea Times