Koiz Completes Acquisition of Ikyeong E&C... Accelerates Expansion into Resource Circulation and Upcycling Business
Koiz has completed the acquisition of Ikyeong E&C, a company specializing in industrial wastewater treatment, and is set to expand its high value-added resource circulation business.
On June 2, Koiz announced that it had finalized the payment of the remaining balance for the acquisition of shares and management rights in Ikyeong E&C, thus completing all procedures related to the acquisition.
Ikyeong E&C is an industrial wastewater treatment specialist with 37 years of experience, operating in process wastewater treatment for advanced industries such as semiconductors, bio, and precision chemicals. The company explained that it provides process wastewater treatment for major conglomerates in the semiconductor and bio sectors, and that it has established a highly profitable structure based on a stable client base and accumulated process technology, resulting in high operating margins.
With this acquisition, Koiz expects that Ikyeong E&C's performance will be reflected in its consolidated results from the first half of this year, anticipating both sales growth and improved profitability.
The company plans to expand its business beyond simple wastewater treatment into high value-added areas focused on resource circulation and upcycling. To this end, Koiz intends to leverage its chemical control technology and high-purity nano metal oxide refining technology to build a business model that recovers substances such as hydrofluoric acid and copper at high purity from process wastewater in advanced industries.
Additionally, Koiz will promote a resource recycling business that efficiently recovers materials such as gadolinium and iodine from hospital wastewater and resells them as raw materials.
Furthermore, Koiz plans to develop technology for extracting and recycling rare metals and organic solvents at high purity, utilizing the purification technology it has accumulated in the synthesis of display optical films and nano metal oxides.
Recently, the company also completed the third issuance of convertible bonds (CB) worth 1 billion won. The former CEO of Ikyeong E&C, who was recently acquired, participated in this CB subscription.
The company explained that the purpose of this CB issuance was not merely to raise funds, but to ensure that the existing management continues to respond to major clients and operate the business even after the acquisition, thereby enhancing management stability and accountability for performance. In addition, a condition was included restricting the exercise of conversion rights and denomination split for one year from the issue date.
A company official stated, "This CB issuance was directly participated in by the existing management of Ikyeong E&C to strengthen business stability and management continuity," adding, "By combining Ikyeong E&C's industrial wastewater treatment technology with Koiz's precision chemical synthesis and refining capabilities, we plan to foster eco-friendly resource circulation and upcycling as new growth engines."
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With the acquisition of Ikyeong E&C, Koiz is accelerating the expansion of its high value-added eco-friendly resource circulation business by combining industrial wastewater treatment with precision chemical technology.
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