Koon Holdings, the civil engineering, reclamation and shore protection specialist, says subsidiary, Econ Precast, has entered into a sale and purchase agreement with Sembawang Engineers and Constructors (SEC) and Construction Technology (Contech) to acquire the entire issued share capital of Contech for $1.78 million.

With the acquisition, coupled with its purchase of EPPL in March 2010, Koon Holdings now owns two of the nine Building and Construction Authority L6-licenced precasters in Singapore.

Under BCA’s L6 licence, Contech has the ability to tender for projects of unlimited value. The company has also been involved in the precast industry since 1984 and has spent the past 25 years supporting many local and overseas developers, contractors.