UMS Integration Enters MoU to Acquire Majority Stake in Vietnam-Based Precision Engineering Business

MT Newswires06-05

UMS Integration (SGX:558) signed a memorandum of understanding to invest in and consolidate three Vietnamese precision engineering companies to form a single company, according to an after-market filing with the Singapore Exchange on Friday.

The company is looking to acquire Viet Nguyen Mechanical Precision Company, Central Metal Mechanical Company and Global Metal Plating Company for a total investment amount of around $3.6 million, against a 51.6% stake through a new company.

The acquisition is part of the company's strategy to enhance its presence in Vietnam.

Meanwhile, the agreement is presently non-binding and subject to due diligence and execution of definitive agreements.

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