Press Metal Aluminium plans to acquire stake in PMB Aluminium Sabah for RM1.2 million
Press Metal Aluminium Holdings Berhad (PMAH) announced that its wholly-owned subsidiary PMB (Klang) Sdn Bhd entered into an agreement with Everlast Aluminium, a wholly-owned subsidiary of PMB Technology Berhad, for the proposed acquisition of the entire equity interest in PMB Central, PMB Northern and PMB Eastern for RM43.182 million.
PMBT and its group of companies are principally involved in the manufacturing and trading of aluminium extrusion, fabrication of aluminium curtain wall and cladding systems and other aluminium related products.
PMB (Klang) also signed a conditional agreement with PMBT for the proposed acquisition of the entire equity interest in PMB Aluminium Sabah for a cash consideration of RM1.2 million.
“It is anticipated that upon completion of the Proposals, the enlarged PMAH Group with its combined resources will provide one stop solution to customers by having both manufacturing and trading arm within the Group and provide a platform to compete more competitively with other aluminium players in the industry,” Press Metal said.
Barring any unforeseen circumstances, the proposals are expected to complete by the fourth quarter of 2019.
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