Malaysian Firm Buys 70% Stake in Twin Rivers Technologies
May 18, 2007| |
Felda Holdings Bhd, one of the largest Malaysian palm oil producers is expected to acquire at least 70% of one of North America’s biggest oleochemical producers, Twin Rivers Technologies (TRT). This move will boost Felda’s presence in North America and pave a way to penetrate the European market. The signing of a memorandum of understanding (MOU) between the two parties was witnessed by Deputy Prime Minister Datuk Seri Najib Tun Razak. TRT’s technical know-how and existing collaborations with European companies will benefit Felda.
This year’s BIO Convention at Boston saw a record number of MOU signed between Malaysian biotech companies and their foreign counterparts. The Minister of Science, Technology and Innovation emphasized that these MOUs will be followed through, and that these collaborations will create more job and business opportunities. This year also saw the biggest Malaysian delegations: 14 exhibitors and 320 participants represented the country.
For more information contact Mahaletchumy Arujanan at maha@bic.org.my.
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