Walcom completes acquisition of Thai site to expand manufacturing

China-based investment holding company Walcom Group completed the 23.9m Thai baht (£520,000) acquisition of a stake in a site in Thailand where it plans to build a feed additive manufacturing plant.

The AIM-listed company bought a two-thirds stake in a 15,295 square metre freehold site in the Sakorn province in Thailand from from its subsidiary Walcom Bio-Chem, which amounts to about THB 15.9m (£340,000).

The remainder of the interest in the site was bought by Paitoon Buddhinunta-Opas, the general manager of Walcom Thailand.

The company said in July, that with the cost of land in Thailand relatively low, it took the opportunity to buy the land in order to develop a plant in the country to supply countries in the Association of Southeast Asian Nations (Asean) market.

Shares in Walcom Group were up 5.19% to 1.31p at 0939 GMT.