Intraco to buy 70% stake in KA Group
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INTRACO Limited has unveiled plans to acquire a 70 per cent stake in a homegrown fire-protection specialist for $16.6 million.
The trading company has inked a term sheet with the owners of KA Group. The latter comprises five companies: KA Building Construction Pte Ltd; Firespray International (Singapore) Pte Ltd; KA Fireproofing Pte Ltd; KA Fabric Shutters Pte Ltd; and KA Firespray Sdn Bhd.
Said Intraco's CEO, Foo Der Rong: "KA Group provides the company an immediate entry point into the industry and serves as a good platform to further expand into other niche building-related activities and products."
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