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SMEC Co. has signed a Memorandum of Understanding to acquire Hyundai Wia's Machine Tool Division for about 340 billion won. SMEC formed a consortium with Rylson Private Equity for the acquisition.
“SMEC expects to solidify its position as one of the top two companies in the machine tool market.”metalworkingnews.info
Summarized from public sources; check the original articles before acting on it.