PPSC to Acquire Majority Share of Chinese Pipe Coating Company

摘要

PPSC Industries Sdn Bhd(Kuantan,Malaysia),a subsidiary of the Socotherm Group,has entered into an agreement to acquire the 53.13 percent of Kanssen(Yadong)Group,a Chinese pipe coating company that owns seven plants in China and one each in Saudi Arabia and Nigeria.The deal equates to more than ?22 million,and includes the incorporation of more than half of Kanssen(Yadong)Pipe Coating.