Market Update - Acquisition of D W Sullivan Windows
Sydney, June 2, 2023 AEST (ABN Newswire) - Australia Sunny Glass Group Limited (NSX:AG1) is pleased to provide the following update on its proposed acquisition of D W Sullivan Windows Pty Ltd (ACN 612 095 397) (DWS).
DWS has incorporated a new fully owned subsidiary to pursue further opportunities in Queensland.
Following discussions between DWS management and key stakeholders and builders in Queensland, the Company and DWS consider that the incorporation of the new subsidiary, D W Sullivan Windows Qld Pty Ltd, is line with the Company's growth objectives.
There are no changes to the key terms of the DWS acquisition, details of which are available in the Notice of General Meeting dated 5 May 2023. Subject to the satisfaction of conditions precedent (including shareholder approval), the Company anticipates that the acquisition will complete on or around 3 July 2023.
About Australia Sunny Glass Group Ltd
Australia Sunny Glass Group Limited (NSX:AG1) seeks to establish itself as a supplier of premium treated glass products to the construction industry in Australia, including in the residential and commercial building markets.