PETALING JAYA: Solid Automotive Bhd
(SAB) is acquiring a piece of freehold agricultural land measuring 4.687 acres in Klang, Selangor, from Top Glove Corb Bhd for RM15.92mil.
In a filing with Bursa Malaysia, the automotive parts and components distributor said the proposed acquisition is consistent with its strategic plan to operate in a more efficient manner, adding that the acquisition is expected to facilitate its consolidation plan.
SAB said the acquisition represents strategic investments, after taking into consideration the freehold industrial zoning land, good accessibility, bigger land size (to facilitate consolidation of distribution centres) and a customisable building (to be built) to facilitate operation efficiency.
SAB said the land is located at one of the established industrial parks, namely Kawasan Perindustrian Meru Timur, next to a matured township (Bandar Setia Alam) and near to Port Klang.
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