Press Metal buys aluminium rod maker for RM96mil

During the quarter in review, the car distributor registered a net profit of RM32.82mil compared with RM19.43mil in the corresponding period last year. Consequently, its earnings per share jumped to 8.4 sen from 4.97 previously

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd says a unit is buying an aluminium rod maker for RM96mil, as the group seeks to expand its production capacity.

The company, in a filing with Bursa Malaysia today, said 80% owned Press Metal Bintulu Sdn Bhd has entered into a share purchase agreement with HNG Capital Sdn Bhd to acquire a 100% stake in Leader Universal Aluminium Sdn Bhd (LUA).