Shimano Components, a Japanese leading manufacturer of bicycle components and fishing equipment, will expand its production in Malaysia through the purchase of new factory in Jeram Batu, Johor state. The Malaysian real estate firm Paragon Globe’s fully owned subsidiary Paragon Bizhub developed the design and build idea for the factory.
Shimano Components will invest MYR 45 million (USD 9.8 million) for the purchase of two units of the single-story detached factory with a double-story office. The built-up area is 135,343 sq. ft. while the land area measures approximately 4.95 acres. The production factory is anticipated to be completed by 2024.
Chia Chin Seng, Managing Director of Shimano, said that the two units would complement the firm’s existing manufacturing facility in Pekan Nenas and it plans to keep investing. This development marks another milestone in Shimano Components’ portfolio and in keeping with the company’s growth and expansion.
(Sources: The Star; Business Today)
