Boustead bolsters offshore presence with acqusition

Kuala Lumpur: Boustead Holdings Bhd will buy an 80% stake in PFC Engineering for RM20m cash, as the group looks to make further inroads into the oil and gas sector.

PFC Engineering specialises in engineering, procurement, construction and commissioning, facilities maintenance and trading of the O&G industry-related mechanical parts, equipment, tools and materials, for both onshore and offshore facilities.

Boustead said two weeks ago it would buy the Port Klang Cruise Centre and some 70 acres of land in Pulau Indah, Selangor with a view to developing some of the land into a fabrication yard for the O&G sector.   [07/08/14]

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