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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

NORTHBROOK, Ill., May 12, 2016 (GLOBE NEWSWIRE) -- 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.

About Hilco Industrial: Hilco Industrial (www.hilcoind.com) provides industrial asset acquisition and disposition services, specializing in machinery, equipment and inventory auctions and negotiated sales. It sells the broad range of industrial assets found in manufacturing, wholesale and distribution companies. Hilco Industrial buys and sells assets through on-site, online and combination webcast auction sale events as well as negotiated (private treaty) sales. In addition to providing services on a fee or commission basis, Hilco Industrial puts capital at risk and often acquires assets or provides guarantees. Hilco Industrial is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate repositioning and renegotiation, strategic advisory, operational consulting and strategic capital equity investments.

About Seokyung Engineering Co. Ltd.: Seoul, South Korea based Seokyung Engineering Company Ltd. provides sales and services of industrial machinery and equipment. The Company also exports investment goods such as machineries, manufacturing cells, and production lines.

About Dongkuk Steel: Dongkuk Steel Mill Co, Ltd. is a steel company with its headquarters in the city of Seoul, South Korea. Its manufacturing plants are located in Pohang, Incheon, Dangjin and Busan. Main products are steel plates mainly for shipbuilding, beams, sections and bars mainly for construction. Dongkuk Steel is the parent company of the Dongkuk Steel Group with several subsidiaries including Union Steel. Dongkuk Steel Mill is the second largest EAF steel producer in Korea behind Hyundai Steel. Additionally, Dongkuk Steel is the world's forty-ninth largest steel maker among IISI member companies.

Media Contact:
Gary Epstein
EVP-CMO
Hilco Global
Office: 847-418-2712
Mobile: 847-323-4943
Email: gepstein@hilcoglobal.com

CONTACT: Gary Epstein Chief Marketing Officer Hilco Global (847) 418- 2712 gepstein@hilcoglobal.com

Source: Hilco Global