Plastrade Technology to buy 100% stake in EA Global Integrated for RM8m

PETALING JAYA: Plastrade Technology Bhd is planning to buy 100% equity interest in EA Global Integrated Sdn Bhd for RM8 million to be satisfied via a combination of new ordinary shares in the company and cash.
It told the stock exchange today that the proposed acquisition is an attractive business proposition as the ICT industry is growing and the purchase is expected to provide the group with good long-term viability and growth opportunity.
In conjunction with the proposed acquisition, the company proposes to diversify its existing principal activities to include distribution and retail of information and communications technology products and related activities.
The group is currently involved in the manufacturing of polyethene compound for wire and cable insulation and jacketing and compounding of plastic masterbatches, polymer additives, plastic compounds and composites.