Lock & Lock

 

[Alpha Biz= Reporter Kim Jisun] Lock & Lock has announced the sale of its Anseong factory for 85 billion KRW. On the 2nd of this month, the company disclosed that it would transfer the land, buildings, and all related facilities at the Anseong factory, located in Gyeonggi Province, for this amount.

The buyers are EO Technics, Geumgang Quartz, and STC, with EO Technics paying 40 billion KRW, and Geumgang Quartz and STC each contributing 22.5 billion KRW. The official transfer date is set for October 13th.

This sale comes nine months after Lock & Lock announced in November of last year that it would cease operations at the Anseong factory to enhance production efficiency and reduce costs. Moving forward, Lock & Lock plans to continue production through domestic outsourcing partners and its own facilities in Vietnam and China.

 

 

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