PETALING JAYA: Johor Corp (JCorp) will be investing in a bearing manufacturing facility with Zhejiang Tianma Bearing Group Co Ltd’s (TMB) subsidiary, Tianma Precision Sdn Bhd, in the Tanjung Langsat Industrial Complex in Johor in a deal worth RM440mil.
In a statement, JCorp said it had signed a sales and purchase agreement with Tianma Precision for the acquisition of 31 acres of industrial land in Tanjung Langsat Industrial Complex (TLIC) to build TMB’s first international bearing manufacturing facility outside of China.
“With expertise in bearing manufacturing and a diverse portfolio comprising over 8,000 types of bearings, TMB has emerged as a leading supplier to wind power industry, railway heavy machinery and other industrial applications.
“Now, with an investment of approximately RM440mil at TLIC, TMB’s business ecosystem is poised to capitalise on this reputation.”
JCorp said the aim is to utilise this new facility to cater to the increasing demand for bearings in wind turbines, with a strategic focus on markets in the United States, Europe, and Latin America.
