Flexidynamic signs MoU to acquire Formtech

From left: Flexidynamic Holdings Bhd deputy managing director Ben Sin, Flexidynamic independent non-executive chairman chairman Dr Teh Chee Ghee, Flexidynamic managing director Tan Kong Leong, HARPS Investment Asia Pte Ltd group CEO Haziq Zairel Oh, HARPS Investment group COO Chen Ghee Wen and Formtech Engineering managing director Dietmar Trumm.

KUALA LUMPUR: Flexidynamic Holdings Bhd has signed a memorandum of understanding (MoU) with HARPS Investment Asia Pte Ltd, a subsidiary of HARPS Global Pte Ltd, to acquire shares in Formtech Engineering (M) Sdn Bhd, a glove former manufacturer in Nilai, Negeri Sembilan.

In a filing with Bursa Malaysia, Flexidynamic said that under the MoU, it had planned to acquire all 8.3 million ordinary shares in Formtech, subject to a final share sale agreement.