CPE Technology acquires RM21mil worth of turning, milling machinery

PETALING JAYA: CPE Technology Bhd (CPE) is acquiring 70 turning and milling machinery from Yamazen (Malaysia) Sdn Bhd and Numac Machinery Sdn Bhd totalling RM21.02mil.

In a filing with Bursa Malaysia, CPE said the machinery is to improve production capacity, machining accuracy and manufacturing efficiency.

It added that the purchase consideration for the acquisition shall be satisfied by cash and loan financing.

CPE said the proposed expansion is intended to provide additional capacity to support the group’s future production requirements.

Separately, CPE said it is proposing to acquire a freehold industrial property in Ulu Tiram, Johor, from Flomatic Industries Sdn Bhd for RM10mil.

It said the acquisition comprises a 0.4039-hectare parcel of land together with an existing factory.

CPE said the proposed acquisition is in line with its long-term strategy to strengthen its manufacturing and industrial capabilities, as well as expand production capacity.