Supermax completes RM20 mln land purchase

Supermax Corp Bhd has announced the completion of its previously proposed acquisition of a 2.02-hectare industrial land in Meru, Klang for RM20 million on May 22, 2020.

The filing made with Bursa Malaysia today was related to its recent announcement for future expansion of its manufacturing capacity.

Supermax, through its wholly-owned Maxter Glove Manufacturing Sdn Bhd, had in March this year, entered into a sale and purchase agreement with Nishimen Industries (M) Sdn Bhd for the acquisition.

“The acquisition is for the future expansion of the group’s manufacturing capacity in a strategic location contiguous to its existing cluster of factories, that will facilitate ease of management control, as well as extraction of maximum synergy and efficiencies operationally and in terms of the land area available for use,” it said.

Source: Bernama