PETALING JAYA: Favelle Favco Bhd
is proposing to acquire France-based Seram Industries SAS from Marec Industrie SAS for an initial purchase price of 7.5 million euros (RM36mil), with conditional deferred consideration of up to 2.5 million euros (RM12mil) in cash.
Seram specialises in the design, manufacturing, installation, training, servicing and maintenance of lifting cranes and electric conveyors for industrial waste management plants.
The company is known for its patented hydraulic balancing crane system, which reduces energy use and provides energy efficient lifting solutions for the global recycling and industrial waste handling market.
In a filing with Bursa Malaysia, Favelle Favco said the proposed acquisition is in the best interest of the group as it complements and enhances its product portfolio and supports its long-term strategy to expand lifting solutions and automated heavy equipment offerings.
“The acquisition is also expected to create cross-selling opportunities, generate operational synergies, and broaden the Favco Group’s earnings base and market presence,” it said.
