Hudaco Industries has signed an agreement to buy local plastic welding equipment importer and stockist Plasti-Weld for up to R56m, with the amount yet to be determined.

The Johannesburg-based firm, valued at about R4.9bn on the JSE, said on Thursday in a brief announcement it was looking to buy new businesses, to expand beyond the import and distribution of automotive, industrial and electronic consumable products in Southern Africa...

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