KUALA LUMPUR, April 23 -- Chemicals manufacturer Ancom Nylex Bhd has announced its bid to acquire homegrown environmental solutions company Green Lagoon Technology Sdn Bhd (GLT) for RM120 million.

The move will be done through its subsidiary Ancom Logistics Berhad (ALB), in which it owns 34 per cent stake, the group said in a statement.

"This strategic move supports Ancom Nylex's goal of achieving full decarbonisation by 2025, underscoring its commitment to environmental responsibility," the group said in a statement.

Formed in 2010, GLT specialises in the design, construction, operation and management of biogas plants, effectively transforming waste into valuable resources.

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