Monday, 12 March 2012

SIG Gases in JV with Japan’s Iwatani for Sarawak project

KUALA LUMPUR (March 12): SIG Gases Bhd is teaming up with a unit of Iwatani Corporation, Japan to set up a joint venture company to set up facilities in Samalaju Industrial Park, Bintulu, Sarawak.

SIG said on Monday the JV would pave the way for SIG Gases and Iwatani to be strategic business partners to set up the facilities in Samalaju to produce and supply of liquid products and compressed gases to customers in Sarawak.

The JV company -- Iwatani-SIG Industrial Gases Sdn Bhd – would produce liquid oxygen, liquid nitrogen, liquid argon, liquid carbon dioxide, hydrogen and gases and pipe them to the Samalaju industrial park.

Iwatani Industrial Gas Pte Ltd, which is involved in the JV, was incorporated in Singapore and is a unit of Iwatani Corporation, Japan.

Iwatani-SIG Industrial Gases’ authorised share capital will be increased to RM25 million and the paid-up share capital to RM11.20 million.

Iwatani will hold 6.72 million shares or 60% stake and SIG Gases 4.48 million shares or 40%.

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