Hansol Technics, an electronic parts and materials company under Hansol Group, will sell its Ochang plant in Cheongju, North Chungcheong.
Hansol Technics said on the 5th that it decided to transfer the Ochang plant, located in Ochang-eup, Cheongju, North Chungcheong, to Cosmecca Korea, a cosmetics ODM (original design manufacturer) specialist corporations. The transaction amount is 64 billion won.
The Ochang plant has been operated mainly for solar module production. The acquirer, Cosmecca Korea, is a global cosmetics ODM corporations with production facilities in Eumseong, North Chungcheong.
The sale is part of a business structure efficiency strategy that Hansol Technics is pursuing. Hansol Technics recently transferred some manufacturing functions for products previously made at domestic factories to overseas business sites to improve production efficiency.
As the utilization of the Ochang plant has declined, the company plans to sell the asset to boost operational efficiency and strengthen financial stability. The transaction is expected to be completed within the year. The proceeds from the sale will be used to secure liquidity and improve the financial structure.
A Hansol Technics official said, "Based on the funds secured, we will strengthen financial soundness and enhance corporations and shareholder value."