Dufu Technology buys manufacturing plants in Penang
22 Dec 2022
DUFU Technology Corp Bhd’s wholly owned unit, Dufusion Sdn Bhd, has entered into two sale and purchase agreements with Merbau Sejati Sdn Bhd to acquire manufacturing plants in Penang for RM45.37 million in total.
In a stock exchange filing today, Dufu said the properties, which has a combined land area of 21,732 sqm, comprise two units of single-storey detached factory with a double-storey office building.
Dufu said the acquisition enables it to increase its production capacity to expand its existing business activities in metal fabrication, machining and assembly.
Dufu pointed out that the group’s production space at the existing Bukit Minyak plant has been well utilised, leaving minimal room for expansion.
“In addition, the acquisition will place Dufu group in a better position to take up more business opportunities. Dufu group will also enjoy an increased competitive edge by increasing its production capacity and derive economic value through improved economic of scale,” it added.
Dufu said the acquisition is expected to be completed within 36 months from the date of the agreement.
Source: The Malaysian Reserve
