KUALA LUMPUR – Malaysian EMS company NationGate Holdings has announced the acquisition of Pengang-based Hesechan Industries for RM25 million ($5.2 million).

The acquisition, which includes four factories and an office block, comes as NationgGate seeks to acquire additional manufacturing space to facilitate its business expansion, the company said.

"The acquisition represents a strategic investment for expansion, and is undertaken in line with NationGate and its subsidiaries’ long-term plan to grow its business," NationGate said. "As the group intends to continue expanding its business, it envisages the requirements of additional manufacturing space to facilitate the expansion."