Favelle Favco to Acquire France-based Seram Industries In Deal Worth Up To RM47.45 Mln
KUALA LUMPUR, Jan 12 (Bernama) -- Favelle Favco Bhd plans to acquire France-based Seram Industries SAS in a deal worth up to RM47.45 million.
In a Bursa Malaysia filing today, Favelle Favso said it has entered into a conditional share purchase agreement (SPA) with Marec Industrie SAS to acquire the entire equity interest in Seram Industries SAS.
The filing stated that the deal entailed an initial purchase price of RM36 million, with conditional deferred consideration of up to RM12 million in cash.
Favelle Favco said Seram Industries’ patented hydraulic balancing crane system, automated material handling technologies, and engineering expertise provide Favelle Favco with a strategic entry into opportunities and growth.
It added opportunities and growth are expected to come within the industrial waste and recycling equipment sector, while strengthening technical capabilities, operational efficiency, and global competitiveness.
“The acquisition is also expected to create cross-selling opportunities, generate operational synergies, and broaden the Favco Group’s earnings base and market presence,” it said.
On prospects, Favelle Favco said demand for automated, energy-efficient, and specialised waste-handling and recycling equipment is expected to increase in line with investments in waste management infrastructure and sustainability initiatives globally, especially in the Asia-Pacific region.
“The proposed acquisition is aligned with Malaysia’s industrial transformation agenda under the Ministry of Investment, Trade and Industry and the New Industrial Master Plan 2030 (NIMP 2030), which emphasised technology adoption, advanced manufacturing, and sustainable industrial practices.
“Seram Industries’s energy-efficient, automated, and recycling-focused equipment fits strongly within Malaysia’s industrial-modernisation and circular economy priorities,” it added.
Seram Industries specialises in the design, manufacturing, installation, training, servicing and maintenance of lifting cranes and electric conveyors for industrial waste management plants. It is a wholly owned subsidiary of Marec Industrie.
-- BERNAMA