One of the largest metal recycling companies in Singapore, Union Steel, has incorporated a new subsidiary, MegaCrane Pte, under its Union Engineering division. According to Union Steel, this subsidiary will incorporate the existing operations, inventory, staff, and the customer base of an unnamed but well-established crane services provider which designs, sells and-or leases heavy duty lifting crane winches.
With this new subsidiary, Union Engineering said it will be able to offer proprietary designed lifting winches, which are backed by software-based control systems and intelligent features for ease of operation, higher productivity and safety, and lower maintenance costs.
Union Steel already has an established customer base in Singapore, with these proprietary winches already being used in workshops, precast construction yards, storage yards, and for projects that include cable and MRT tunnelling. Union Engineering said it also intends to further improve the design and technology of the winches, making them even more attractive to existing and potential customers.
“Union Steel’s engineering division is increasingly becoming a focus area for us, and we aim to continue expanding our capabilities in this area. In the long run, this division will be an important source of not just recurring income, but growth for the Group as we harness synergies, economies of scale, and complementary opportunities between the operating subsidiaries,” commented Ang Yu Seng, executive chairman and chief executive officer of Union Steel.