Unitrade eyes 51% stake in metal recycling firm

KUALA LUMPUR: Unitrade Industries Bhd is eyeing a 51% stake in metal recycler Intergreen Metals Sdn Bhd (IMSB) to expand its building material wholesale and distribution business.

Unitrade, which also makes pre-insulated pipes, said it had entered into a heads of agreement with Intergreen Holdings Sdn Bhd, Intergreen Corp (M) Sdn Bhd and Pong Wing Seng to negotiate the acquisition of the stake in IMSB for an indicative price of RM66.3mil.