SINGAPORE (Dec 20): Allied Technologies has entered into a sale and purchase agreement to sell its entire 100% equity interest of Allied Technologies (Suzhou) Co. (ATSU) for a total of $25 million.

Incorporated in China, ATSU is principally engaged in the business of toolmaking, manufacture of metal stamped parts, and provision of value-added assembly services.

Allied Technologies says the proposed disposal will allow the group to redeploy its resources and capital to other profitable operations and eventually deliver positive value to its shareholders.

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