Business

Tuesday September 15, 2009

Texchem enters joint venture


KUALA LUMPUR: Texchem Resources Bhd (TRB) via unit Texchem-Pack (PP) Sdn Bhd (TXPP), a wholly-owned subsidiary of Texchem-Pack (M) Sdn Bhd, had on Sept 3 entered into a joint-venture (JV) agreement with Global Precision Inc (GPI) for the establishment of JV company Texchem Advanced Products Sdn Bhd (TXAP).

In a statement to Bursa yesterday, TRB said the rationale for the JV was because the group was involved in the manufacture and sale of packaging products for the electronics, electrical, semiconductor and disk drive industries.

The JV would also enable the group to tap on GPI’s technical expertise and experience to reinforce its manufacturing activities and derive synergistic benefits out of TXAP and enlarge business opportunities of the TRB group.

“The joint venture is expected to increase the profitability of and have a positive contribution to the TRB group in the long term,” it said.


TEXCHEM : [Stock Watch] [News]


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