Ta Win Holdings, an integrated Malaysian manufacturer of copper products, has announced the purchase of land and factory assets from BRB Properties through its wholly-owned subsidiary Ta Win Innotech. The RM35 million acquisition is expected to be completed in the first quarter of 2022.
What this means is that products from Port Klang could soon be used in electric vehicles across the world. Located in the industrial area of Port Klang, the four-acre factory will have a total build-up area of 150,000 sq.ft.
This announcement comes just one week after Bursa-listed Ta Win announced that it has securing a three-year contract with South Korea’s Posco as an exclusive supplier of copper wires, rods and other products for the production of EVs around the world. Posco is one of the world’s largest steelmakers and it’s a major supplier to carmakers, including compatriot Hyundai-Kia, which is strong in the EV game.
“Ta Win is growing beyond our current capacity, and it’s clear that we need to prepare for the next phase of development by identifying great sites to produce our copper and wire products which are experiencing increasing demand by our automotive clients to make their EVs,” said Tieng Ngu, group MD at Ta Win.
“The location for this factory couldn’t be better. It will provide easy access by both land and sea and is a direct response to our growing business and client demand for our innovative automotive products. We look forward to bringing it into full production early next year as part of our EV business development and expansion. Further, focusing on promoting green energy, the partnership with Posco will be able to contribute to the establishment of a win-win system across the copper recycling value chain,” he added.
Everyone’s rushing to make EVs these days, and the trend has increased demand for copper, a major ingredient in EV batteries. In September, Ta Win announced plans to establish three Electron Beam Irradiation plants in Malaysia within the next three years to supply irradiated cross-linked wire and cable products, utilising its innovative patented electron beam cross-linked technology.
Cyprium Technology Wire, a subsidiary of Ta Win, will be manufacturing this technology at a current site and free up space to develop its signal and power business by transferring the manufacturing of copper rods and wires to the new site at Port Klang, which is set to triple Ta Win’s production capacity in the medium to long term.
With this business expansion and Ta Win’s exclusive supplier contract with Posco, the Port Klang land and factory acquisition will enable further growth, powered by EVs, which it will in turn help power. It’s not commonly known, but Malaysia plays a relatively big role in the global automotive supply chain, and Ta Win’s Posco deal is another example of it.
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Very nice article. Looks like a good turnaround company for the future! Gogogo Ta Win!