Kuala Lumpur , May 12 – T7 Aero Sdn Bhd a wholly owned subsidiary of T7 Global Berhad (T7 Global) and KOV Limited (KOV) has announced its Joint Venture Agreement (“JVA”) which was signed on 9th May 2017 and incorporated a new company named T7 Kilgour Sdn. Bhd.
The Company will build, operate and set up a metal treatments plant in Malaysia to pursue high value manufacturing businesses in metal treatments.
In reference to its joint venture partner, KOV’s ultimate shareholders are Kilgour Metal Treatments Limited (Kilgour), namely Paula Jose Kilgour and Raymond Kilgour. T7 Aero’s collaboration with Kilgour will be on a sole and exclusive basis in the Asia-Pacific Region, excluding China and Japan.
In the Company’s structure, a 60%:40% shareholding was formed with T7 Aero as the controlling stake. The Company will provide high value manufacturing services for both the export and domestic market in Malaysia. Each party has been designated clear responsibilities, obligations and principles to operate a prudent business and maximise shareholder value.
As part of the strategic partnership, T7 Aero will be primarily involved in providing human capability, support business localisation and provide operational support. KOV will inject its industry expertise, experience and training which include strategic business development support by leveraging on its global network.
The Company will provide various metal treatment services to the clients including non-destructive testing, painting and marking, chemical processing, heat treatment and surface treatment. All these treatments mainly for aerospace but can also be cater to various industries such as oil and gas, automotive, biomedical and many more.
“This partnership marks the strong ties between the two entities. We are proud to have Kilgour on board andwe are confident that Kilgour’s 50 years of in-depth technical and experience in the industry will be a cornerstone to the development of this growing industry. Concurrently, we have also signed a Head of Agreement with MARA Aerospace & Technologies Sdn. Bhd. to work together on human capital development in the aerospace industry. These formidable partnerships with Kilgour and MARA are new milestones for T7 Global into the aerospace industry.” said Datuk Seri Dr. Nik Norzul Thani bin N. Hassan Thani, Chairman of T7 Global Berhad.