PETALING JAYA: EPB Group Bhd is acquiring a piece of industrial land at Plot P23B, Penang Science Park North measuring 7.8424 acres from Penang Development Corp for RM22.49mil.
In a filing with Bursa Malaysia, EPB said the proposed acquisition is in line with the group’s business strategies and future plans.
EPB said it intends to expand its business footprint in Penang by building a new corporate office, as well as a factory building with a warehouse and a showroom.
“The proposed acquisition will enable the group to expand its existing production area by building a new factory, which allows the group to enhance the production capabilities for the food processing and packaging machinery solutions to meet the expected future growth in demand and shorten turnaround time, should there be multiple large orders secured at the same time.
“In addition, a warehouse will also be constructed within this new factory building to provide the group with additional warehousing space to store raw materials or inputs as well as finished goods.”
