Wednesday, June 23, 2010

KNM Group book order at RM2.1b

KUALA LUMPUR: KNM GROUP BHD [] has increased its order book to RM2.1 billion as for now from RM1.5 billion a year ago, says its managing director Lee Swee Eng.

Lee, who is also the acting chairman, said on Wednesday, June 23 the book order was enough to last 18 months.

He added KNM would leverage on the TECHNOLOGY [] from Borsig to move up value chain.

Borsig is a German company whose subsidiaries are in the development, manufacture, installation and maintenance of plant and processing equipment in the chemical, petrochemical, oil and gas, power and industrial service industries.

KNM had on Feb 29, 2008 signed a sale and purchase agreement to acquire 100% of Borsig for cash consideration of Euros 350 million. The cash consideration was then equivalent to about RM1.669 billion based on an exchange rate of RM4.77:Euro1.00.

No comments:

Post a Comment