CHIN YANG INDUSTRY CO., LTD. is a Korea-based company engaged in the manufacture and marketing of formed plastic products. The Company mainly produces sponges, which are polyurethane foam products used in automobile interior products, shoes, beds, furniture, electronics, construction and other industries. It also sells marbles. Its main customers include NEWTEC GLOBAL, KOLON GLOTECH, INC. and others. On May 22, 2013, Chinyang Holdings Corporation announced that it has acquired a 90.8% stake in the Company. After the transaction, Chinyang Holdings Corporation's stake in the Company has increased to 50.96% from 41.88%.