GDS Global (SGX:5VP
) announced that it has completed the acquisition of Asiabuild Metal Engineering and Integrated Aluminium, following shareholders’ approval obtained at the recent EGM held on May 29.
Based on the existing contracts and purchase orders held by both companies, GDS Global’s order book will increase to around $24.4 million and expects to be fulfilled across 2026 to 2028, barring unforeseen circumstances.
SAC Capital is the sponsor and financial adviser to GDS Global for the above acquisition.
“The acquisition marks a pivotal milestone in GDS’s corporate journey, broadening its growth platform and reinforcing the foundations for its next phase of development,” says Tan Kian Tiong, COO of SAC Capital.
Meanwhile, GDS Global believes that the acquisition will help to complement its existing door and shutter systems business and strengthen its building solutions capabilities through expanded expertise in structural steel, metal engineering, and architectural aluminium solutions.
“We believe the complementary engineering expertise, established customer relationships, and proven operational track records will create additional revenue recurring streams, broaden our customer reach, and strengthen our long-term growth prospects,” says Tang Hee Sung, non-executive non-independent chairman of GDS Global.
See also: Sembcorp completes purchase of Alinta Energy
Shares of GDS Global closed 0.3 cents down, or 4.92% lower at 5.8 cents on June 8.
