KUALA LUMPUR, Malaysia, Nov. 8, 2021 /PRNewswire/ -- Ta Win Holdings Berhad ("Ta Win" or the "Group"), an integrated Malaysian manufacturer of copper products, today announced the purchase of land and factory assets from BRB Properties Sdh Bhd through its wholly-owned subsidiary Ta Win Innotech Sdh Bhd. The acquisition is expected to be completed in the first quarter of 2022.
Strategically located in the industrial area of Port Klang, Malaysia's largest and one of the world's busiest ports, the factory occupies four acres and a total build-up area of 150,000 square feet and enjoys convenient global access situated on the Strait of Malacca and at the nexus of several key highways in the country, while also improving economies of scale and cost efficiency. The factory will provide new jobs at Ta Win, and existing property and jobs at Ta Win are unaffected by the purchase.
Tieng Ngu, Group Managing Director of Ta Win, said, "Ta Win is growing beyond our current capacity, and it's clear that we need to prepare for the next phase of development by identifying great sites to produce our copper and wire products which are experiencing increasing demand by our automotive clients to make their electric vehicles."
The land and factory purchase announcement comes just one week after Ta Win announced securing a three-year contract with South Korea's POSCO International as an exclusive supplier of copper wires, rods and other products for the production of electric vehicles around the world.
Ngu adds, "The location for this factory couldn't be better. It will provide easy access by both land and sea and is a direct response to our growing business and client demand for our innovative automotive products. We look forward to bringing it into full production early next year as part of our EV business development and expansion."
"Further, focusing on promoting green energy, the partnership with POSCO will be able to contribute to the establishment of a win-win system across the copper recycling value chain."
This is also part of POSCO's corporate citizenship philosophy of practicing shared growth to benefit local businesses.
The global drive for clean energy and the reduction of dependence on fossil fuels is fuelling demand for new automotive solutions for electric vehicles, subsequently leading to increased demand for copper. To leverage this growth, Ta Win announced plans on September 1, 2021 to establish three Electron Beam Irradiation plants in Malaysia within the next three years to supply irradiated cross-linked wire and cable products utilising its innovative patented electron beam cross-linked technology. Cyprium Technology Wire Sdh Bhd, a subsidiary of Ta Win, will be manufacturing this technology at a current site and free up space to develop its signal and power business by transferring the manufacturing of copper rods and wires to the new site at Port Klang.
In light of this business expansion and Ta Win's recent exclusive supplier contract with POSCO International, the land and factory acquisition will enable Ta Win's further growth in copper production used in the manufacturing of electric vehicles.
About Ta Win
Established in 1994, Ta Win Holdings Berhad ("Ta Win") is an investment holdings company that is principally in the business of manufacturing and sales of copper wires and copper rods and is a supply chain company for electric vehicles. Listed on the Main Market of Bursa Malaysia Securities Berhad August 2020 (Stock code: TAWIN 7097), the Group has been the leading copper wire and copper rods manufacturing company for over 25 years in Malaysia. Ta Win products are manufactured using world-class equipment and boast the highest quality and standards in the industry that are used in a wide range of industries in Asia, particularly in Mainland China, India, Taiwan and Southeast Asia. Ta Win is now entering a robust turnaround stage of rapid profitable growth and expansion with fund raising corporate exercises, downstream and upstream business acquisitions and new markets entrance.
