S&T Holdings Co., Ltd. is a Korea-based holding company engaged in the management of its subsidiaries. Through its subsidiaries, the Company operates in four business divisions: automobile parts division, which manufactures axles, transmissions, shock absorbers, air bags, motors and others, as well as defense products; industrial equipment division, which manufactures air-cooled heat exchangers, heat recovery steam generators (HRSGs), condensers, denitrification facilities and others; motorcycle division, which manufactures motorcycles and related parts, and other products division, which provides computer numerical control (CNC) machine tools, semiconductor equipment, machining centers, aircrafts, castings and others. The Company