SINGAPORE, April 10, 2024 (GLOBE NEWSWIRE) -- Multi Ways Holdings Limited ("Multi Ways" or the "Company") (NYSE:MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announces the sale of eight state-of-the-art SANY cranes from its recently expanded fleet to two customers. This sale is a strategic move following the Company's recent fleet renewal and expansion plans amidst improving industry conditions.
The sale encompasses eight units of the SANY Crawler Crane, amounting to approximately USD2.12 million. These cranes are celebrated for their superior performance, dependability, and cutting-edge features, mirroring Multi Ways' dedication to providing first-class equipment solutions to its clientele.
This initiative aligns with the Company's strategic approach to continually refresh and enlarge its fleet, catering to the rising demand for heavy construction equipment within Singapore and the surrounding areas while ensuring it stays ahead in the industry, ready to tackle more ambitious and complex projects. Given the anticipated growth in the construction sector and the commencement of several significant infrastructure projects, Multi Ways is well-positioned to support its customers and employees by adapting to market demands and expectations.
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