Molecor plans partnership in Malaysia
PUBLISHED: 27 Jan 14
The Spanish company, whose technology is already licensed internationally, enters the key market of Southeast Asia
The Spanish company Molecor Tecnology SL, worldwide leader in technology and production of PVC pipes (PVC-O), announces that it has entered into a memorandum of understanding with FITTERS Diversified Berhad, to invest in creating Molecor (SEA) Sdn Bhd, as part of the international expansion strategy.
The joint venture combines the molecular orientation technology patented by Molecor, located in the five continents and the the reliability of a firm with almost 30 years of experience in Malaysia and the Southeast Asia region.
Fitters is an investment and manufacturing company whose main activities are in fire-safety materials, equipment and fire-prevention systems. Molecor said Fitters reported a 111 percent increase in net profit in 2013 "which motivates them to launch his new line of business exclusively using Molecor technology."
FITTERS is an investment and manufacturing company established in Malaysia on January 18, 1986 and is listed on the Main Board of Bursa Malaysia Securities. The main activities are in fire-safety materials, equipment and fire-prevention systems. The company reported a strong profit increase, +111% in 2013, which motivates them to launch a new line of business using exclusively molecular orientation technology made by Molecor.
This commitment is realized with the establishment of the company "Molecor (SEA) Sdn Bhd", which FITTERS is the major shareholder.
"We're clearly convinced about the PVC-O pipe possibilities worldwide and the entrance in the Asian market with a reputed partner is a new business venture model with a promising future," said Ignacio Munoz, CEO and founder of Molecor Tecnologia.
This challenge confirms the international nature of Molecor and consolidates its international growth.
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