KUALA LUMPUR, Feb 23 (Bernama) -- Scientex Bhd plans to expand its product portfolio and production capacity through the proposed acquisition of another flexible plastic product manufacturer, Klang Hock Plastic Industries Sdn Bhd (KHPI), for RM190 million cash.
In a filing with Bursa Malaysia today, the manufacturing and property development group said its unit ,Scientex Packaging Film Sdn Bhd, had inked an agreement with four businessmen to take over KHPI.
With manufacturing plants in Klang, KHPI makes and sells plastic films, bags, tubes and other flexible plastic packaging products.
Scientex said the proposed acquisition would generate synergistic benefits and enable it to further expand and enhance its products for the fast-moving consumer goods and food and beverage sectors, as well as industrial and agricultural products, including agricultural films products and flexitank films.
The deal would give the enlarged Scientex group a larger market share, enhanced product range to cater for a diversified customer base and sustained competitive advantages in the manufacture of packaging products, it added.....