Sam Engineering to buy Aviatron, proposes rights issue

KUALA LUMPUR: Sam Engineering & Equipment (M) Bhd (Samee) has proposed to acquire the entire equity interest in Aviatron (M) Sdn Bhd from Singapore Aerospace Manufacturing Pte Ltd for US$43.40 million (US$1=RM4.66) cash.

In a Bursa Malaysia filing today, the engineering company said it is a "timely opportunity” after taking into consideration Aviatron’s prospects and healthy order book, which is supported by long-term contracts with two major customers -- subsidiaries of the world’s largest supplier of aerospace and defence products -- as they raise aircraft production and deliveries.