KUALA LUMPUR: WTEC Group has inked a memorandum of understanding with Jiangsu ChengFeng New Materials Co Ltd to develop a framework for technical collaboration and the supply of speciality technical polyurethane foam.
Jiangsu ChengFeng New Materials, which is also known as Winfun Foam, is a manufacturer of polyurethane-based products that are widely used across industries such as automotive, aerospace, rail transportation, medical, electronics, water treatment, and air filtration.
According to a filing with Bursa Malaysia, the collaboration between the companies shall include technical development of polyurethane foam products, the supply and distribution of polyurethane foam materials, marketing activities in Asean and technical support.
WTEC expects the collaboration to strengthen its presence in the automotive and electrical and electronics sectors as well as complement its existing product range to move further into more specialised and higher-value market segments.
"The board is of the view that the collaboration is expected to support WTEC Group’s business growth by facilitating market expansion and strengthening its position in the industry as a manufacturer of foam products," it said.
