FINWIRES · TerminalLIVE
FINWIRES

Furukawa Electric to Merge Unit in Absorption-Type Merger

By

Furukawa Electric (TYO:5801) agreed to merge with its wholly owned subsidiary Furukawa FITEL Optical Components Co. in an absorption-type merger, according to a Tokyo bourse filing on Tuesday.

The Japan-based manufacturer said that following the merger, to be executed on July 31, FFOC will be absorbed within Furukawa Electric, which shall operate as the surviving company.

The merger, which involves no new share issue or cash consideration, is scheduled to be effective April 1, 2027, and is aimed at maximizing the use of resources and enhancing decision-making.

Related Articles

Asia

Cosmo Chemical Shares Rise 6% on KRW15.5 Billion EcoPro Supply Deal

Cosmo Chemical (KRX:005420) secured a supply contract for cobalt sulfate, a secondary battery cathode material, from EcoPro (KOSDAQ:086520) subsidiary EcoPro EM, according to a Tuesday Korea Exchange filing.The contract, worth 15.47 billion won, is valid till Dec. 31, 2031.Shares of Cosmo Chemical rose nearly 6% in recent trade.

$KOSDAQ:086520$KRX:005420
Asia

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

$BOM:500300$NSE:GRASIM
Asia

SEC Wins KRW4.2 Billion Equipment Supply Order from Hanwha Aerospace

South Korean tech and inspection company SEC (KOSDAQ:081180) won an order from Hanwha Aerospace (KRX:012450) to supply the latter with non-destructive testing equipment, according to a Tuesday filing with the Korea Exchange.The contract, worth 4.2 billion won, is valid till Dec. 31, 2027.Shares of Hanwha Aerospace rose nearly 1% in recent trade.

$KOSDAQ:081180$KRX:012450