KUALA LUMPUR: QES Group Bhd is buying a factory building with a five-storey office in Glenmarie, Selangor for RM21mil cash to expand its office and production area.
In a statement on Monday, QES managing director and president Chew Ne Weng said the purchase of the building would enable it to increase its manufacturing capacity.
“The expansion is estimated to double QES’s manufacturing capacity as well as to support future growth and expansion for our manufacturing and distribution division, ” he added.
QES’s core business is the distribution of inspection, test and measurement equipment, materials and engineering solutions. It also manufactures optical inspection equipment, automated handling equipment and advanced wafer measurement system.
Its unit QES (Asia-Pacific) Sdn Bhd had signed a sale and purchase agreement with Astronautic Technology (M) Sdn Bhd for the purchase of the factory in Glenmarie, Selangor, which is near its current office and factory.
The site is 5,833 square metres which comprises a single-storey detached factory with an annexed five storey office.
QES plans to fund the proposed acquisition via its own funds and/or bank borrowings. It expects the proposed acquisition to be completed within three months.