(From Business Times (Malaysia))
PROCESS equipment maker KNM Group Bhd plans to acquire a manufacturing plant in Indonesia next year to cater to the strong demand from the oil and gas sector there.
Managing director Lee Swee Eng said it is looking at Batam, Jawa or Balikpapan for a suitable plant.
"We prefer to acquire an operational plant if there is a suitable candidate as the gestation period to set up a new factory takes up a few years," he told reporters after the company's extraordinary general meeting in Seri Kembangan, Selangor, yesterday.
While contracts from Indonesia only account for a small portion of KNM's order book …