- Created: Monday, 26 October 2015 12:28
Anchor Capital Investments, (NSX: ACI) is pleased to announce the acquisition of a 50% interest in Teknik Utama International Ltd (TUI).
TUI holds 100% of PT Indonusontara Tata Udara, a well-known contractor of HVAC mechanical and electronical services in the oil and gas, power generation, petrochemical and mining sectors. The Company specialises in installation of lifts and air-conditioning systems and has been operating since 2002.
Anchor has agreed to pay all costs associated with the listing of TUI on the National Stock Exchange of Australia (NSX) and the Frankfurt Stock Exchange (FSE) and for the raising of US$5.5 million of funding to allow for the expansion of operations of PT Indonusantara Tala Udara.
President of Anchor Capital Investments, Mr NA Mogul stated: "We are very excited to invest in Teknik Utama International and the investment reflects our commitment and faith in the tremendous growth opportunities in Indonesia."
"We are equally excited with the commitment from Anchor Capital Investments Ltd and this gives us the working capital to take on more jobs which are already being offered to us in Indonesia" said Mr Selamet Widjaja, President and CEO of PT Indonusantara Tata Udara.
For further information, please contact:
INVESTOR AND MEDIA RELATIONS Linda Kirkland