Kuala Lumpur, 2 December 2015 – – Eversendai Corporation Berhad, a provider of specialist engineering and construction services with strong presence in the Middle East region, India and Malaysia, today announced its proposed 70% acquisition of S-Con Engineering Co. Ltd., a company incorporated in Thailand, whose expertise lies in steel fabrication and plant construction, with over twenty years of experience.
S-Con Engineering’s core business over the past two decades has been in carbon steel and stainless steel fabrication, mechanical construction and installation; the Company has the ability to offer full turnkey solutions in design, project management, equipment supply, system installation, commissioning and maintenance. The acquisition will see Eversendai bidding for steel, composite structures, power and petrochemical plant as well as infrastructure projects in Thailand and its surrounding regions.
Commenting on the new corporate development, Tan Sri A K Nathan, Executive Chairman and Group Managing Director of Eversendai Corporation Berhad said, ‘The proposed acquisition of S-Con Engineering is in line with the Company’s business plan to expand its footage in the Southeast Asian region. Eversendai has been looking at growing and exploring business opportunities in Thailand where we foresee prospective projects that fit into our portfolio. We are confident that this venture can be used as a stepping stone to strategically position ourselves.This is a marvellous opportunity for Eversendai to venture into Thailand with a ready infrastructure as we establish a potential additional future income stream. The proposed acquisition will enable Eversendai to utilise S-Con’s fantastic track record to grow and strengthen its established working relationship with its international clients and undertake a range of projects in Thailand whilst also exporting fabricated works overseas.’
In line with its tagline, ‘Towering – Powering – Energising – Innovating’, Eversendai is continuously looking at delving into new opportunities in inter-related industries whilst maintaining its commendable performance and track record.