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Wah Seong To Buy Out PPSC Industrial |
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(Article by Business Times, 5 August 2009)
WAH Seong Corp Bhd is investing some RM76.2 million to buy the remaining 32.5 per cent stake in a pipe coating company and make it a wholly-owned unit.
It is buying the remaining stake in PPSC Industrial Holdings Sdn Bhd from Italy's Socotherm.
Wah Seong will use internal funds and shareholder advances for the purchase.
Its shares closed 4 sen higher yesterday at RM2.07.
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