WALCOMWorkshop on Algorithms and Computation
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Walcom said it is seeking legal advice over the new development in the case.
Shares in Walcom Group were untraded on Wednesday in London, last quoted at 0.25 pence.
Looking ahead, Walcom will continue to work on increasing its customer base and penetration into the poultry feed sector, and hopes to see the benefit of its work in the latter part of the year.
In addition, Walcom noted that the Shanghai Pudong New Area People's Court on Wednesday received a notice of appeal from an unnamed customer, which owes the company CNY4.8 million in debt, or GBP544,411.
The total consideration for the site is THB 23.9m (equivalent to USD .68m), of which the company's two-thirds stake is THB 15.9m, which was funded entirely from Walcom Thailand's existing cash resources.
Specifically, the Walcom Group board has witnessed expanding sales into Thailand, Cambodia and Vietnam during the current financial year and is hopeful that this trend will continue.
It is proposed that the plant will be used to manufacture the existing Walcom products and/or animal premix products (depending on the levels of demand experienced) for the AEC market.
M2 EQUITYBITES-November 15, 2016-Chinese Animal Feed Additive Maker Walcom Closes Acquisition of Majority Stake in Bangkok Freehold Site
15 November 2016 - Chinese animal feed additive producer Walcom Group Ltd.
In addition, the diversification of manufacturing facilities by Walcom should allow for downside protection of gross margins in the event that Chinese manufacturing costs continue to increase.
Development of the plant will be subject to planning consent and will be funded from Walcom Thailand's internal resources and/or bank finance, as appropriate.
In Wallonia, Walcom runs a network of 20 shops for the sale of telecom products to retail customers.