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THE INVESTOR
April 04, 2020
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Hanon Systems to be boosted by acquisition’

  • PUBLISHED :September 21, 2018 - 11:23
  • UPDATED :September 21, 2018 - 11:23
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[THE INVESTOR] Hanon Systems will gain from taking over Magna International’s fluid pressure and controls business, said KB Investment and Securities on Sept. 21, maintaining a “buy” recommendation and 15,000 won (US$13.43) target price.




Operating 10 manufacturing facilities and nine engineering centers, this division sells heat-controlling and pump products to help improve fuel efficiency and reduce emission to carmakers Volkswagen, Daimler, GM, Ford and FCA, said analyst Kang Seong-jin. 

This acquisition will boost Hanon’s earnings per share up 22.7 percent. The acquired division’s operating profit is projected to be US$130 million next year. There is a need to review the estimates and appraise the synergies with existing business before adjusting the target price, said the analyst. 

By Hwang You-mee (glamazon@heraldcorp.com)

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