PETALING JAYA: Despite a severe downcycle in the global silicon metal industry, Press Metal
Aluminium Holdings Bhd is going ahead with its proposition to acquire a bigger stake in PMB Technology Bhd.
The integrated producer of aluminium products – which already has a 23% stake in PMB – plans to acquire an additional 36%, making it the largest shareholder at 59% and a subsidiary of Press Metal.
The rationale behind the acquisition is for Press Metal to secure PMB’s existing smelting infrastructure and 129-megawatt hydropower allocation.
The infrastructure will then be repurposed into an 80,000 tonnes per annum primary aluminium smelter, before progressively expanding into silicon-aluminium alloy production.
...