15 Jul 2011
ERJ staff report (DS)
Kuala Lumpur - Tradewinds Plantation Berhad has informed the KL stock exchange that its shareholders have approved its proposed acquisition of Mardec, the former Malaysian Rubber Development Corp. Through a subsidiary, Tradewinds will pay RM140.00 Million (euro 33 million)
Local newspapers reported from the company's EGM, where the motion was passed. The Star quoted Tradewinds Chairman Datuk Wira Syed Abdul Jabbar Shahabudin saying the acquisition was part of Tradewinds Plantations' strategy to expand its rubber business into downstream activities, complementing its existing rubber plantation operations.
The paper said Tradewinds hopes to commercialise Ekoprena and Pureprena speciality latex grade elastomers
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Stock Exchange announcement from Tradewinds
Tradewinds Plantation gets nod to buy Mardec for RM140mil The Star (Malaysia)
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