KUALA LUMPUR, Oct 9 (Bernama) — UMW Equipment Division Sdn. Bhd. (“UEDSB”), an indirect wholly owned subsidiary of UMW Holdings Berhad (“UMW”), has entered into a Share Sale and Purchase Agreement (“SSPA”) with Toyota Industries Corporation, Japan (“TICO”) which is anticipated to further deepen strategic collaboration between the parties with respect to the industrial equipment business of UMW Group on 6 October 2023. The strategic collaboration is expected to upgrade the relationship between TICO and UMW from a principal-distributor to co-owners of the industrial equipment business of UMW Group.
With the entry of TICO into the industrial equipment business of UMW Group, the parties are expected to strengthen and expand UMW Group’s industrial equipment business by leveraging TICO’s expertise to develop a One-Stop Centre capability for the Industrial Equipment and Logistics Automation businesses. UMW views this strategic collaboration as essential in supporting industries to gear towards Industry 4.0 and this is expected to drive the growth of the industrial equipment business going forward.
