PETALING JAYA: UWC Bhd
has agreed to buy MCE Technologies Sdn Bhd and MCT Thailand Co Ltd, wholly-owned subsidiaries of Meta Health Ltd, for a price which is to be determined.
UWC said the purchase will be funded with internal resources.
The two proposed subsidiaries are primarily engaged in metal stamping as well as manufacturing of tools and fixtures in Malaysia and Thailand.
UWC, in a release yesterday, noted the acquisition will help to ramp up its production capacity while offering geographical diversification in terms of manufacturing sites.
By strategically locating closer to customers in the southern Malaysia region and the greater south east asian region, UWC anticipates its streamlined operations will enhance customer satisfaction.
“These two subsidiaries will not only fortify our position in the industry but also play an important role in creating a synergistic combination with our existing business.
“We are optimistic about the potential of the acquisitions, in anticipation of the strong recovery of the semiconductor industry," UWC executive director and group CEO Datuk Ng Chai Eng said.
UWC is an integrated engineering supporting services provider, principally involved in fabrication and full turnkey assembly services for automated test equipment in the semiconductor, life science and medical technology, and heavy equipment industries.
It also collaborates with customers in the initial designs and development of their products to achieve cost reduction and improve production cycle time.
