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SINGAPORE: Koon Holdings said it has acquired Contech for S$1.78 million.
By acquiring Contech, Koon said it will become one of the largest precasters in Singapore in terms of capacity, resources and product range.
Contech has the ability to tender for projects of unlimited value with its Building & Construction Authority L-6 licence.
Its extensive customer base includes the Housing and Development Board and the Land Transport Authority.
Contech produces a wide range of precast products, such as staircases, columns and beams.
The company said the addition of these production lines will effectively double its precast capabilities by 50 thousand cubic metres per annum.
The acquisition is expected to contribute positively to the group's performance for the financial year ending December.
It will be funded wholly from internal sources.
-CNA/wk
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