Broadway Industrial Group Completes Acquisition of Two Tool Manufacturers

MT Newswires

09/25

Broadway Industrial (SGX:B69), through subsidiary BIGL Asia, completed the acquisitions of 51% stake each in Shenzhen Zhuoluoyu Precision Tool and ZLY Precision Tool (Thailand) from the founder of ZLY Group, according to a Thursday filing with the Singapore Exchange.

BIGL Asia purchased the majority stake in Shenzhen Zhuoluoyu Precision Tool and ZLY Precision Tool (Thailand) for 17 million yuan and 16.2 million yuan, respectively.

The target companies are engaged in the business of manufacturing, assembling, and selling parts and components to manufacturers of customized tools, the filing said.

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