History
In the 1980s, OYL expanded regionally into China and Indonesia. Having set a firm foundation regionally, OYL took a significant step towards the globalisation of its activities when it acquired US-based SnyderGeneral in May 1994. This acquisition of a major US company by a Malaysian public listed organisation is the first in Malaysian corporate history.
The Group's principal activities are the manufacture, sale and distribution of heating, ventilating, air-conditioning and refrigeration equipment and the manufacture and sale of air filtration products and systems. Other activities include investment and property holding. Operations are carried out in North America, Asia and Europe.
OYL was incorporated in Malaysia as a private limited company under the name of O.YL. Industries Sdn Bhd and commenced operations (in Shah Alam) during the year 1974 with the assembly of gas cookers and GLEM gas ovens.
OYL was a public listed company and its shares were traded on the Main Board of Bursa Malaysia. It was delisted as OYL became a member of Hong Leong Group Malaysia.
In 2006, Diakin acquired OYL from Hong Leong.
Read more about this topic: OYL Industries
Famous quotes containing the word history:
“The history of the past is but one long struggle upward to equality.”
—Elizabeth Cady Stanton (1815–1902)
“The history of men’s opposition to women’s emancipation is more interesting perhaps than the story of that emancipation itself.”
—Virginia Woolf (1882–1941)
“Properly speaking, history is nothing but the crimes and misfortunes of the human race.”
—Pierre Bayle (1647–1706)