4/8/2010
NEWS BRIEFS
Eastgate Technology Acquires Sin Hong

Eastgate Technology acquired fastener supplier and investment holding firm Sin Hong for S$18 million (US$12.91 million) cash, ChannelNewsAsia.com reports.

While its principal activity is investment holding, Sin Hong also manufactures, imports and exports fasteners and precision components, and has three subsidiaries: HFL, Maritrans Corporation and MST Precision.

Eastgate has been looking to buy a profitable business for the past couple of years, during which time it has undergone a corporate restructuring. The company said it has divested most of its subsidiaries that were losing money. ©2010 GlobalFastenerNews.com

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