SAPURA Industrial Bhd has formalised a joint venture with Chinese precision component maker Zhejiang Zhongze Precision Technology Co Ltd to set up a battery component manufacturing facility in Malaysia. Following a March memorandum of understanding, the partnership will see Sapura’s unit SIB Ventures hold a 51% stake, with Zhejiang Zhongze owning 49%.
SIB Ventures will handle corporate and regulatory support, while Zhejiang Zhongze will provide technical expertise and assist with sourcing and sales.
The collaboration marks a strategic move for Sapura Industrial into the energy storage and battery sector, aiming to expand its export-oriented manufacturing footprint and regional market presence. — TMR
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