Unionmet inks oil blending R&D deal

METALS trader Unionmet (Singapore) Ltd has tied up with the Institute of Chemical and Engineering Services (ICES) to conduct research and development (R&D) in the oil blending business. Under the memorandum of understanding, ICES will second research scientists and engineers to mainboard-listed Unionmet, with Spring Singapore helping the firm to subsidise up to 70 per cent of their salaries. Unionmet said the collaboration will help provide the group technical skillsets and expertise in further testing, evaluating and enhancing new technologies in its thrust into the oil blending business.

Aspial issues $45m notes maturing in 2019