Deal to buy German maker of airbag fabric
Seoul - Yonhap
Hyosung Corp., a South Korean maker of textiles, chemicals and heavy machinery, said Thursday that it has signed a deal to take over a German-based textile firm in a bid to diversify its business portfolio. Under the deal, Hyosung will take over a 100 percent stake in Global Safety Textiles (GST) GmbH, which provides airbag fabrics to automakers and auto parts manufacturers with a global market share of 14 percent.
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