Dura Technology Sets Up JV Company To Undertake Business In Canada

KUALA LUMPUR, Nov 14 (Bernama) -- Dura Technology Sdn Bhd has set up Dura Concrete Canada Inc (DCI), to promote, manufacture and sell Ultra High-Performance Concrete (UHPC) formulation and technology in Canada. A subsidiary of Leweko Resources Bhd, the new project would be undertaken under a joint venture with Canadian-based FACCA Incorporated, which will also manufacture concrete-based construction components using UHPC for sale in Canada. "The authorised share capital of DCI shall consist solely of an unlimited number of common shares and the shareholding ratio of the venturers shall be maintained at 9 (FACCA):1 (Dura Technology)," said Leweko Resources in a filing to Bursa Malaysia (Malaysia's Stock Exchange) Monday. It added that Dura Technology and FACCA would operate DCI on a "for profit" basis, recognising all market and economic conditions existing in Canada from time to time. Leweko Resources said that the business was expected to contribute positively to the future earnings of the group. -- BERNAMA