CPE Technology buys machinery worth RM21mil

PETALING JAYA: CPE Technology Bhd is acquiring 70 turning and milling machinery from Yamazen (M) 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 said the purchase consideration 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 planning to buy a freehold industrial property in Ulu Tiram, Johor, from Flomatic Industries Sdn Bhd for RM10mil.

The acquisition comprises a 0.4039ha parcel of land together with an existing factory. It said the acquisition is in line with its long-term strategy to strengthen its manufacturing and industrial capabilities, as well as expand production capacity.