Friday 29 Mar 2024
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KUALA LUMPUR (July 5): A unit of Wah Seong Corp Bhd has entered into a distributorship agreement with Switzerland-based Ammann BauAusrűstung AG's to be an exclusive dealer for the sales and services of its construction products within West Malaysia.

In a bourse filing, Wah Seong said its 60%-owned indirect subsidiary WDG Resources Sdn Bhd has inked the agreement with Ammann to distribute its products including Pavers, Heavy Compaction and Light Compaction.

"The distributorship is expected to contribute positively to the earnings of Wah Seong over the period of the distributorship agreement," the group said, adding the agreement would be effective for an indefinite period unless otherwise terminated by either of the parties by giving three months' written notice, and upon the terms and conditions stipulated in the agreement.

WDG is principally involved in the distribution and service of construction equipment, power systems and related parts.

Ammann Group is a world-leading supplier of mixing plants and machines and in providing services to the construction industry with core expertise in road building and transportation infrastructure. Headquartered in Langenthal, Switzerland, Ammann is a family-owned company founded in 1869 and its current CEO is the sixth generation to run the business. The group has about 160 dealers and 30 agents in more than 100 countries around the world.

Wah Seong gained a sen or 0.8% to close at RM1.26 today, for a market capitalisation of RM973.34 million.

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