12.11.2010

Tat Hong acquires Hup Hin

Singapore based Tat Hong Heavy Equipment has agreed the acquisition of a 70 percent holding in Hup Hin Transport.

Singapore based Hup Hin provides a wide range of transport services, including heavy moving up to 1,200 tonnes, it operates a fleet of 200 pieces of equipment which includes as a small fleet of mobile cranes. Tat Hong is paying s$7.7 million for its 70 percent stake. The asset value of the business is $6.8 million and profits after tax for 2009 were $3.05 million.
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A Hup Hin crane

Tat Hong says that the combination of the two businesses will provide each company with an increased customer base and that it sees a possibility to offer a wider range of services while providing a good potential for a return on the investment.

The deal is expected to complete at the end of the month.