Acromec, which provides cleanroom systems, has acquired the remaining 40% equity interest in Golden Harvest Engineering for $0.55 million.
Golden Harvest, which provides maintenance services for the air-conditioning and mechanical ventilation systems of buildings, is seen as complementary to what Acromec is doing.
It also undertakes minor installation works as part of its suite of services for retail and commercial buildings.
“With Golden Harvest’s expertise and track record in the maintenance services sector, the group's maintenance segment business has been growing steadily over the years,” says Lim Say Chin, Acromec’s executive chairman and managing director.
“Our decision to acquire the remaining 40% of Golden Harvest will further enhance the group’s existing maintenance segment business, thereby increasing our recurring business base,” he adds.
As at 10.31am, Acromec shares were trading at 14 cents, up 1.2 cents, or 9.38%.
