CPE Technology Arm to Buy MYR34.5 Million of Machinery; Shares Up 2%

MT Newswires Live07-20

Champion Precision Technology, a wholly-owned subsidiary of CPE Technology Berhad (KLSE:CPETECH), has agreed to acquire machinery worth 34.5 million Malaysian ringgit from various vendors, according to a Friday filing with the Malaysian bourse.

The company has agreed to acquire eight units of auto lathe machines, 45 units of Okuma computer numerical control (CNC) turning machines, two units of DMG CNC turning machines, three units of Citizen Miyano CNC turning machines, and 60 units of Fanuc CNC milling machines.

The acquisitions are expected to be completed by the second quarter of fiscal 2027.

The company said the acquisitions will expand its capacity to support customer demand through the purchase of 118 CNC machines.

Shares of the precision engineering company were up 2% in recent trade.

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