AKN Technology Bhd (AKN Tech), which yesterday posted a net loss of RM14.2mil or a loss of 12.25 sen a share for its second quarter ended Sept 30, announced it was planning to buy a chemical coating supplier to the rubber glove industry to diversify its business away from the volatile semiconductor industry.
The proposed acquisition of Paramount Discovery Sdn Bhd, which is in the process of buying three companies involved in the production and selling of polymer coating solutions, would cost AKN Tech RM30.8mil.