SINGAPORE-headquartered SIR (Standard Indonesian Rubber) producer Halcyon Agri Corporation said that it will acquire Malaysian NR (natural rubber) producer Chip Lam Seng in an RM63 million (USS$25.67 million) deal.
With the buyout, Chip Lam Seng’s current two natural rubber factories in Ipoh, Malaysia, which have a combined annual production capacity of 180,000 tonnes, are expected to more than double Halcyon’s annual production capacity to more than 300,000 tonnes, with the latter’s own two factories located in Malaysia and Indonesia.