Kim Hin enters Australia via purchase of UK-based Norcros Industry

PETALING JAYA: Kim Hin Industry Bhd has entered into a conditional share sale agreement to buy UK-based Norcros Industry Pty Ltd (NIPL) for A$2.3mil (RM6.9mil) in a move to enter the Australian market.

The proposed acquisition entailed Tileworld Sdn Bhd, Kim Hin’s 100% owned subsidiary, acquiring 15,350,000 ordinary A shares, 2,200,000 ordinary B shares and 5,918,550 ordinary C shares of NIPL from Norcros Industry (International) Ltd.