Air Products has recently announced the acquisition of the remaining 30 percent equity interest in its Malaysian subsidiary, Air Products STB Sdn Bhd, from its joint venture partner Sitt Tatt Berhad (STB).
In 1988, Air Products established official presence in the market through a minority stake partnership with Malaysian company Sitt Tatt Berhad. The company was renamed as Air Products STB Sdn Bhd in 2003 to reflect Air Products' further commitment to Malaysia.
Wilbur Mok, president for Air Products Asia, said: $quot;This strategic move allows us to be more focused and more effectively create synergies with our resources and infrastructure in the region.$quot;
Air Products recorded sales of $55m in Malaysia in Fiscal year 2006.