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Molecor Tecnologia SL has signed a memorandum of understanding in Malaysia that will enable it to target its oriented PVC pipe technology at the pressure pipes market in Southeast Asia.
Spain-based Molecor said it has entered the agreement with Malasyian company Fitters Diversified, which will invest in Molecor (SEA) Sdn Bhd, based in Malaysia. Fitters will become the major shareholder in Molecor (SEA) Sdn Bhd.
Fitters is an investment and manufacturing company whose main activities are in fire-safety materials, equipment and fire-prevention systems. Molecor said Fitters reported a 111 percent increase in net profit in 2013 "which motivates them to launch his new line of business exclusively using Molecor technology."
"We're clearly convinced about the PVC-O pipe possibilities worldwide and the entrance in the Asian market with a reputed partner is a new business venture model with a promising future," said Ignacio Muñoz, CEO and founder of Molecor Tecnologia.