KUALA LUMPUR: DPI Holdings Bhd is exploring an acquisition of 90% equity interest in Zeus Chemicals Products Pty Ltd as it aims to expand its aerosol manufacturing business into Australia.
In a filing with Bursa Malaysia, the company said it has entered into a memorandum of understanding with the vendors, Neil Gregory Zeuschner and Jane Caroline Zeuschner.
Jerry Ching Yang Mo, who will be appointed a director in Zeus upon completion of the acquisition, intends to acquire his own 5% equity interest in Zeus and will represent DPI in overseeing its investment in the firm as well as managing the business alongside the Zeuschners.
According to the filing, Zeus is engaged in the manufacturing and trading of aerosol paint under its own trademark, “ULTRACOLOR”.
The company operates from a facility in South Windsor which is located in the Hawkesbury region of New South Wales, and comprises a laboratory, manufacturing plant, aerosol filling lines, warehouse and administration office.
"“The acquisition forms part of our group business strategies to expand our presence into overseas markets by selling our products through our directly owned overseas subsidiary.
:"At the same time, we also plan to bring back some of the niche market products produced by this overseas aerosol manufacturer for distribution into the Malaysian markets.
"We always look for ways and means to consistently grow our business further and to expand the company to become a truly globalised player in the long run, ” said DPI executive chairman and managing director Peter Chai Mui Seng in a statement.