Companies

China Merchants Group acquires Aussie Loscam

(Agencies)
Updated: 2010-07-05 14:14

Hong Kong-based conglomerate China Merchants Group has acquired Australian pallet maker Loscam Ltd, Locam said in a statement on Monday.

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The business was sold by private equity group Affinity Equity Partners for an undisclosed sum.

Loscam makes and hires out wooden and plastic pallets, and is a competitor to listed Brambles Ltd, the world's top pallet supplier. The company, based in Australia, has 11 offices throughout Asia.