Engtek is a market leader in aluminium die casting and precision engineering to diversified industries, including HVAC, semi-conductor, automotive, telecommunications and data storage. The company is headquartered in Penang with manufacturing sites in Johor, Penang and Manila. Engtek offers an end-to-end service across product design, prototyping, die casting, machining, testing, assembly and supply chain management.
PrimeMovers Equity, along with co-investor Lingotto Investment Management, has acquired a majority stake in Engtek Group at approximately SGD150 million in June 2023.
"The prospect of having PME and Lingotto joining us as strategic partners is immensely exciting. Their participation will enable us to realise our global ambitions and we intend to implement PME's tried-and-tested GTO™ framework, which is expected to take Engtek's operations to the next level."
Dato' Teh Yong Khoon, CEO and Chairman of Engtek Group