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Wednesday, August 31, 2016

Top Glove buys land for RM52mil to expand production

Wednesday, 31 August 2016
Top Glove buys land for RM52mil to expand production

PETALING JAYA: Glovemaker Top Glove Corp Bhd is buying a 3.44ha plot of freehold land that comes with a factory located in the Sungai Puloh industrial area near Klang for RM51.5mil.

The acquisition would allow the company to expand its production lines. Top Glove’s local factories are mostly located in Klang.

The company said in a filing with Bursa Malaysia that the land and factory was bought from steel product maker YKGI Holdings Bhd.

“Barring any unforeseen circumstance, the board expects the proposed acquisition to be completed by the first quarter of 2017,” it said.

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