from Favelle Favco website
PETALING JAYA: Favelle Favco Bhd
is proposing to acquire France-based Seram Industries SAS from Marec Industrie SAS for an initial purchase price of €7.5mil (RM36mil), with conditional deferred consideration of up to €2.5mil (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.
