PETALING JAYA: Foam and non-foam products manufacturer WTEC Group Bhd today entered into a nemorandum of understanding (MoU) with Jiangsu ChengFeng New Materials Co Ltd (Winfun Foam), a China-based specialist in manufacturing and developing advanced polyurethane-based products.
Winfun Foam manufactures and develops advanced polyurethane-based products that are widely used across industries such as automotive, aerospace, rail transport, medical, electronics, water treatment and air filtration.
Under the MoU, WTEC Group and Winfun Foam will jointly develop and customise polyurethane foam products, supply and distribute specialty polyurethane foam materials, undertake market development initiatives within Asean member countries and provide technical support.
The collaboration leverages both parties’ technical expertise, manufacturing capabilities and regional market networks.
WTEC Group managing director Tan Kok Kheng said, “We are delighted to embark on this strategic partnership with Winfun Foam, a recognised leader in advanced polyurethane materials. This collaboration combines the technical strengths and manufacturing excellence of both companies, enhancing our ability to offer high-performance solutions. It will strengthen our presence in the automotive and electrical and electronics (E&E) sectors and enable us to better meet the evolving needs of customers across Asean.”
He added that the technical foam materials will complement WTEC Group’s existing product range, enabling the company to move further into specialised and higher value market segments where it already holds a strong position, particularly in the automotive and E&E industries.
Winfun Foam chairman Ruan Guo Ciao said, “This partnership offers an exciting opportunity to combine resources and expertise, enabling both companies to accelerate innovation and deliver high-quality polyurethane solutions to the dynamic Asean market. We look forward to working closely with WTEC Group to build a strong, sustainable presence across the region.”
The signing of this MoU coincides with a major milestone for WTEC Group, which was listed on the ACE Market of Bursa Malaysia Securities today. Its shares opened unchanged at 25 sen, the same as its initial public offering price.
