PENANG: Eonmetall Group Bhd expects its new RM25mil plant in Valdor Industrial Estate to be operational in the first quarter of the year.
Occupying about 2.8ha, the plant would significantly raise Eonmetall's production capacity, managing director Datuk Goh Cheng Huat said at the company EGM yesterday.
He said the company's overseas sales contribution had increased to 65% last year compared with 55% in 2005.
Datuk Goh Cheng Huat Currently, we export our machines and steel products to 27 countries.
With the opening of the new plant, we hope to broaden our geographical reach while catering to the huge demand for our products, he said.
Shareholders at the EGM approved its proposed one-for-two bonus issue of up to 63.25 million new shares.
The proposed bonus issue would facilitate Eonmetall's proposed transfer of listing to the Bursa Malaysia main board, said executive director Yeoh Cheng Chye.
The Securities Commission had approved the proposed transfer, which the group hoped would be effected by the first quarter.