Foundpac acquires industrial land for RM41.88mil

KUALA LUMPUR: Foundpac Group Bhd is acquiring a piece of leasehold industrial land in Bayan Lepas, Penang from Bluemetal Sdn Bhd for RM41.88mil.

In a filing with Bursa Malaysia, Foundpac said the proposed acquisition was undertaken to consolidate its production operations located in Penang (namely the factories located in Batu Maung, Bayan Lepas and Prai) to a single premise.

“The Group presently has its current production operations located in six factories, where four factories are located in Batu Maung, Bayan Lepas and Prai, Penang and two factories are located in Sungai Petani and Sik, Kedah.