KUALA LUMPUR: Press Metal Aluminium Holdings Bhd says a unit is buying an aluminium rod maker for RM96mil, as the group seeks to expand its production capacity. The company, in a filing with Bursa Malaysia today, said 80% owned Press Metal Bintulu Sdn Bhd has entered into a share purchase agreement with HNG Capital Sdn Bhd to acquire a 100% stake in Leader Universal Aluminium Sdn Bhd (LUA). “The proposed acquisition provides the group a platform equipped with technical expertise and additional capacity to expand into the aluminium rod market,” it said. “The proposed acquisition will bring synergy to the group’s aluminium business and will enhance the contribution to the group’s value-added product,” it added. Leader Universal Aluminium has factories in Nilai, Negeri Sembilan and Tampoi, Johor.

Source: The Star February 27, 2018 13:52 UTC