Sungwoo Hitech Mexico, S.A. De C.V. announced that it has received $30 million in funding from Sungwoo Hitech Co., Ltd., I-Zone Co. Ltd.
January 21, 2021
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Sungwoo Hitech Mexico, S.A. De C.V. announced that it has received $30 million in equity round of funding on January 22, 2021. The transaction included participation from existing investors Sungwoo Hitech Co., Ltd. (KOSDAQ:A015750) for $21 million to retain its 70% stake and I-Zone Co. Ltd. for $9 million to retain its 30% stake. The transaction has been approved by the board of directors of the company.
SUNGWOO HITECH CO., LTD. is a Korea-based original equipment manufacturer (OEM) principally engaged in the provision of automobile components. The Companyâs products include bumper rails, side members, fender apron completes, center floor completes, hood assemblies, dash completes, floor panel components, package-tray centers, inner lowers, side sills, center pilers and others. It also involves in the distribution of steel products. The Company mainly distributes its products to Hyundai Motor Company, GM Daewoo Auto & Technology Company, KIA Motors Corporation and others.
SUNGWOO HITECH CO., LTD. 
