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Dongkuk Steel Mill Co. Appoints Hilco Industrial Acquisitions B.V. To Sell 2.000.000 Ton/Year VAI DAVY Plate Mill

Amsterdam based Hilco Industrial Acquisitions, B.V. (www.hilcoind.com), a unit of Hilco Global, announced that it has been appointed by Dongkuk Steel Mill Co. Ltd, along with its Korean affiliate Seokyung Engineering Co. Ltd., as the exclusive agent to market and sell the "VAI DAVY" Plate Mill in Pohang, South Korea.

Hilco Industrial Acquisitions has begun a private treaty sale and negotiation process for complete heavy plate mill capable of producing 2.000.000 ton of shipbuilding plates per year, as well as a rolling mill, finishing mill and roughing mill. The assets are available immediately. 
For additional information on the assets, visit www.hilcoind.com or contact:

Robert Bouland 
Hilco Industrial Acquisitions, B.V.
Email: RBouland@hilcoglobal.com
Telephone: 31 (6)51 741 363

This sale process is part of a reorganization at Dongkuk which began following the company's acquisition of Union Steel Co., to improve the company's financial standing and strive for more diversity. Dongkuk Steel is known for producing steel plates from those for general use to high-quality products such as TMCP and Normalized for ship building and marine structures. The facility is located in Pohang, Gyeongbuk in South Korea. Recently a decision was made to sell the "VAI DAVY" Plate Mill which was built in 1997.

Sources:
Yahoo Finance