KUALA LUMPUR: Boustead Heavy Industries Corp
Bhd (BHIC) has disposed of its equity stake in Contraves Advanced Devices Sdn Bhd (CAD) to German automotive and arms manufacturer, Rheinmetall AG.
In a statement, BHIC said its wholly owned subsidiary, BHIC Defence Technologies Sdn Bhd, through which the shares were held, reached an agreement with Rheinmetall for the disposal of the shares following negotiations initiated in December 2023.
