Globe Manor announced on November 19 that Infinity Dev (00640.HK) has entered into an agreement with the seller for the acquisition of assets on November 19, 2024, for a price of 4.25 million USD, to establish its manufacturing business with a new manufacturing plant set up by the group in Indonesia.
After acquiring an industrial land in Indonesia in April 2022 and commencing groundwork and architecture engineering on that land, the group is now carrying out construction for the new manufacturing plant on the land, to better serve its customers by enhancing its cost competitiveness and freight time advantages, and further consolidate its core business. In summary, the acquired assets are intended to establish its manufacturing business with the new manufacturing plant in Indonesia.
