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Sunway to buy quarry and premix plant operator to penetrate into new markets.
KUALA LUMPUR March 29 Sunway Bhd is acquiring Blacktop Industries Sdn Bhd, which will allow the groups quarry division to penetrate into new markets by wider market coverage and additional capacity.
Blacktop is in the business of production and selling of quarry aggregates and asphalt premix, as well as renting of mobile equipment. It alsoholds a 50 equity interest in both Blacktop Lanchang Sdn Bhd and Can Technical Services Sdn Bhd, as well as a 49 stake in TKM Sdn Bhd.
In a filing with Bursa Malaysia today, Sunway said its wholly-owned subsidiary Sunway Holdings Sdn Bhd has entered into a share sale agreement SSA with Datin Seri Lau Lai San, Chu Yuen Leng and Chu Yuen Mun to acquire 1 million shares or a 100 stake in Blacktop Industries Sdn Bhd for RM70.09 million.Lau, Yuen Leng and Yuen Mun hold 40, 41 and 19 shareholding respectively in Blacktop.
Sunway said the proposed acquisition will improve both market share and financial performance of its quarry division via penetration into new markets.
Kuala lumpur quarry equipment sales - Henan Mining Machinery kuala lumpur quarry equipment sales. Jun 17, 2016 Kuala Lumpur, June 17, 2016 CASE Construction Equipment, a brand of CNH Industrial, has appointed Sunway Enterprise 1988 Sdn Bhd Sunway hydraulic and pneumatic crawler drill, air compressor, generator set and construction machinery.
According to Sunway, the proposed acquisition will be carried out in two tranches where Sunway Holdings will first acquire a 60 stake in Blacktop for RM42.05 million, followed by another tranche involving the remaining 40 stake in Blacktop for RM28.04 million.
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