CFM buys clean-room, medical disposables and wearables supplier for S$2m
CFM Holdings, which manufactures metal-stamped parts, is buying IPL, a clean-room, medical disposables and wearables supplier, for S$2 million in cash.
The company entered into a sale-and-purchase agreement with Neo Chwee Hum and Neo Chew Pieng on Friday to acquire the entire issued and paid-up share capital of IPL.
CFM's board said that the proposed acquisition would diversify the company's risks from its current core business of metal stamping and fabricating engineering tools, and give CFM the opportunity to explore stamping and fabrication works with IPL's existing customers.
The company will finance the acquisition with its internal funds.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in