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SINGAPORE : Singapore-listed engineering services firm PEC has acquired a 51 percent stake in Major Insulation and Links Marketing, or MIL, for S$3 million.
MIL is a Singapore-based specialist service provider of hot and cold thermal insulation, sound proofing and fire proofing works in the oil and gas industry.
PEC's Group CEO Robert Dompeling said MIL will be a valuable addition to its business, further enhancing and expanding the firm's in-house capabilities and overall value proposition to its customers.
The acquisition is not expected to have any material impact on the firm's earnings in the current financial year.
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