Pestech International Bhd said its subsidiary Pestech Technology Sdn Bhd (PTech) is acquiring Colas Rail System Engineering Sdn Bhd (CRSE) to stimulate growth in its utility and railway business. The value of the transaction is approx. RM 10.38 million (EUR 2.1 million). Pestech Technology Sdn Bhd has entered into sale and purchase agreements with Colas Rail Asia Sdn Bhd/Colas Rail and Vital Bid Sdn Bhd to acquire 100% of CRSE’s issued share capital.
CRSE is principally engaged in the provision of project management, engineering design, procurement, construction and related support services in relation to railway electrical and mechanical projects. Following the acquisition, CRSE will become a wholly-owned subsidiary of PTech, and an indirect wholly-owned subsidiary of Pestech.
“The acquisition is expected to accelerate the growth of PTech in the power generation and rail electrification business, and enhance Pestech group’s future earnings potential”, the group stated.
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