KTL Global buys stake in Korean rigging firm for $6.7m
To help it expand in North Asia.
Ropes and rigging company KTL Global revelaed that it plans to acquire a 20%-stake in Korean rigging specialist, Dae Kwang for $6.7m (US$5m).
Dae Kwang manufactures and supplies ropes, lifting and rigging equipment as well as provides mooring and spooling services for Korea’s shipyards and international customers –
The acquisition will help the KTL Global expand in North Asia, in line with its strategic direction to widen its global footprint.