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Texchem unit in joint venture with US firm

 

2009/09/15

 

TEXCHEM Resources Bhd (TRB) said Texchem-Pack (TXPP) Sdn Bhd on September 3 entered into an
agreement with Global Precision Inc (GPI) of the US to form a joint-venture company called Texchem
Advanced Products Sdn Bhd (TXAP).

 

With an authorised share capital of RM5 million, TXAP will principally engage in the development of the
technology for high precision/ultra clean injection moulded products for silicon wafer handling and
transportation and market development of related products.

 

In a filing to Bursa Malaysia yesterday, TRB said the joint venture will enable the group to tap on GPI’s
technical expertise and experience to reinforce its manufacturing activities and derive synergistic benefits out
of TXAP, as well as enlarge the business opportunities of the group.

 

TXPP will hold a 51 per cent in TXAP, while GPI will have 49 per cent.

 

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