KUALA LUMPUR (Jan 15): Malaysia’s largest manufacturer of low to medium pressure industrial rubber hose, Wellcall Holdings Bhd is teaming up with Swedish based Trelleborg Group to manufacture and sell composite hose and fittings.
In a statement today, Wellcall said it will form a joint venture company with Trelleborg for the said agreement. Trelleborg and Wellcall will hold 51% and 49% respectively.
“Wellcall will fund its share of the equity participation in the JV company through internally generated funds,” it said.
Additionally part of the JV, Wellcall and Trelleborg will jointly establish a composite hose production site in Malaysia. Trelleborg currently manufactures their composite hoses in Europe.
It said typical applications for hoses in composite materials include those for road and rail tanker trucks, hoses for aviation fuel and for aggressive chemicals.
Wellcall closed up one sen or 0.77% to RM1.31, for a market capitalisation of RM651.72 million.
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