KUALA LUMPUR (Oct 29): Press Metal Aluminium Bhd’s wholly-owned subsidiary, PMB (Klang) Sdn Bhd, plans to acquire the entire equity interest in PMB Central Sdn Bhd, PMB Northern Sdn Bhd and PMB Eastern Sdn Bhd from Everlast Aluminium (M) Sdn Bhd for RM43.182 million.

Everlast Aluminium is wholly-owned by PMB Technology Bhd.

In a filing with Bursa Malaysia, Press Metal said PMB Klang would also acquire the entire equity interest in PMB Aluminium Sabah Sdn Bhd from PMB Technology for a cash consideration of RM1.2 million.

Press Metal said upon completion of the acquisitions, the enlarged group would provide a one-stop solution to customers by having both manufacturing and trading arms, as well as, a platform to compete more competitively with other aluminium players in the industry.

“Barring any unforeseen circumstances, the proposal is expected to be completed by the fourth quarter of 2019,” it added. — Bernama