PERISAI Petroleum Teknologi Bhd has entered into an agreement with Morstrong Industries Sdn Bhd to form a joint-venture company (newco) to undertake research and development, manufacture and marketing of specialised protective underwater and surface coating for corrosion control purposes in the oil and gas industry.
In a statement to Bursa Malaysia, Perisai said the joint venture was synergistic to the principal activities of the group. The name of the newco would be announced upon its incorporation, it said.
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