KUALA LUMPUR, June 23 (Bernama) -- Evergreen Fibreboard Bhd's wholly-owned subsidiary, Evergreen Fibreboard (Nilai) Sdn Bhd, has signed a business transfer agreement with Hume Industries (M) Bhd and Hume Fibreboard Sdn Bhd (HFSB) to acquire the business of HFSB for RM213.230 million in part-cash and part shares.
HFSB, principally engaged in the manufacturing and sale of medium-density fibreboard and its related products and activities, is a wholly-owned subsidiary of Hume Industries.
In a statement to Bursa Malaysia here today,
Evergreen Fibreboard said the acquisition would further increase its production capacity and this would make the company the number one producer in Malaysia and the top 12 producers in the world.
"With the increase capacity, the company will also be able to develop and produce additional volume of value added products which are high in demand," it said. -- BERNAMA