Bandak Group has expanded its business in Asia through the acquisition of Multi Fibre Sdn. Bhd.
Multi Fibre Sdn. Bhd. is based in Johor Bahru, Malaysia and is an industry leader in the supply of fabricated subsea structures to the oil and gas industry. The acquired company will be merged with Bandak Group’s Malaysian entity Bandak Malaysia Sdn. Bhd.
The acquisition brings together the complementary manufacturing capabilities and capacities of both companies and will be further enhanced from as the joint operations will be merged and operated from a new expanded Multi Fibre facility in Nusajaya, Johor during 2014.
The new premises will be 7500 m2 in total and provide the capability to deliver material sourcing, fabrication, machining, welding, clad welding, testing, coating and assembly into the growing APAC oil and gas industry.
Bandak Group CEO, Per Gunnar Borhaug, commented: “This acquisition will provide Bandak Malaysia with a solid foundation to strengthen our regional footprint and positions us as a leading manufacturing centre in the APAC region, which together with our seven Bandak Group Norwegian-based facilities enables us to better serve our customers close to where their manufacturing facilities are located.”
Bandak Group will have approximately 550 employees after the merger and projected 2014 revenue of US$ 150 million.
“Bandak Group has the ambition for further strong development both by acquisitions and by organic development. We are building an internationally oriented Group and are currently into many operational improvement programs combined with strong growth”, Borhaug continued.
The founder of Multi Fibre, Dato’ Loh Liam Hiang, explained he was happy to announce that Bandak Group is the right partner to bring this company forward: ”I am happy to consult and help for a good transition until I later retire.”
“After close to 40 years as owner of Multi Fibre, it has been important for me to find a partner whom I trust to continue the good relations I have had with my customers and suppliers. I strongly believe that Bandak Group will also be highly valued by Multi Fibre’s employees. Bandak Group proves a strong will to invest in the business since they already have decided to expand the facilities,” he concluded.
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/19062014/bandak_group_expands_in_asia_868/