Ever Glory to Acquire Guthrie Engineering; Shares Surge 6%

MT Newswires

04/09

Ever Glory (SGX:ZKX) entered into a share purchase agreement with Guthrie GTS to acquire all the ordinary shares of Guthrie Engineering, according to a Tuesday filing with the Singapore Exchange.

Guthrie Engineering has a 36.87% stake in Tek Guthrie which is engaged in the manufacturing of moulds, tools and dies, and metal stamping.

The total consideration for the purchase of the sale shares is SG$46.0 million with the completion slated for June 2.

Shares of the company surged over 6% in recent trading.

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