PETALING JAYA: Karyon Industries Bhd (KIB) is proposing to acquire a piece of freehold industrial land measuring 3,842 sq m in Johor Baru from Premetal Stamping Ind Sdn Bhd for RM7.6mil.

In a filing with Bursa Malaysia, the chemical industry firm said the proposed acquisition represented an opportunity to acquire further space in the vicinity of its existing factories to increase its existing storage capacity.