Acquisition will enable group to increase its production capacity for future expansion as wellVS Industry Bhd has entered into sale and purchase and construction agreements with Ipark Development Sdn Bhd to acquire six pieces of land with industrial buildings for a total consideration of RM98.77 million.
According to the group’s Bursa disclosure, the land is located in Tebrau, Johor, with a single story detached factory with two story office block as well as a single to three story industrial building with two storey office block. VS also revealed that it will relocate its headquarters to the properties which will free up space at its existing manufacturing facilities to capture rising orders from existing customers.
Group managing director Kelvin Lee Chai said the domestic direct investment within its i-Park industrial park from a world-renowned EMS player is a vote of confidence for the group’s top-notch facilities that are able to support their high-capacity requirements.