PETALING JAYA: Karyon Industries Bhd
(KIB) is proposing to acquire a piece of freehold industrial land measuring 3,587 sq metres in Johor Baru, Johor, from Tanah Temasik Sdn Bhd for RM8.6mil.
In a filing with Bursa Malaysia, the polyvinyl chloride (PVC) compound manufacturer said the proposed acquisition is in line with its long-term strategy to strengthen its manufacturing and industrial capabilities, as well as expand production capacity.
“The proposed acquisition represents an opportunity to acquire additional space within the vicinity of its existing factories to set-up additional and/or new manufacturing lines in the near future as well as to increase its existing storage capacity.
“Premised on the above, the proposed acquisition is expected to enhance the group’s manufacturing footprint and support the expansion plan of the group.”
Barring any unforeseen circumstances, KIB said the proposed acquisition is expected to contribute positively to the future earnings of the group.
