Auto parts manufacturer Mando to split in SeptemberMando Corporation, the country’s second largest auto parts manufacturer, said yesterday that it will divide the company into two entities in order to boost its operational efficiency and business management.
After the board meeting yesterday, Mando said it will be split into a company that manages manufacturing and another that manages the investment business of affiliates. The name of the latter is presumed to be Halla Holdings. Existing Mando shareholders will have 0.48 shares of Halla Holdings and 0.52 shares of Mando, according to the company. The separation process is expected to be finalized in September after a shareholders’ meeting.