AT SYSTEMATISATION Bhd, an ACE Market-listed integrated designer and manufacturer of industrial automation systems and precision engineering solutions, has sealed a two-year US$10 mil (RM41.8 mil) contract with Switzerland-based Rieter Machine Works Ltd to manufacture and supply aluminium parts for the latter’s card and ring spinning machines.
The contract’s duration runs from Jan 1, 2022 until Dec 31, 2023.
Also as part of the two-year contract, AT will provide Rieter with roughly 950 sets of carding components and 1,800 crates spinning components, both of which are high precision components for Rieter’s textile machines.
AT managing director Choong Lee Aun deemed the contract inked with Rieter as a significant testimonial to their trust in AT’s skills and services over the last six years.
“We have established a strategic business relationship with Rieter since 2016 by providing high-quality precision tooling components to ensure Rieter’s operational efficiencies and are very pleased that Rieter has recognised the value of AT,” he pointed out.
“This new agreement demonstrates our continued ability, a result of our commitment to delivering the highest quality products and services which will motivate us to continue to excel in what we do best.”
Choong further expects the contract to contribute positively to AT’s earnings for the financial year 2022 until 2023 while looking forward to continuing building strong business relationships with Rieter in the years to come.
Rieter is the world’s leading supplier of systems for short-staple fibre spinning develops and manufactures machinery, systems and components used to convert natural and man-made fibres and their blends into yarns with 17 manufacturing locations across 10 countries.
Aside from its engineering prowess, AT has since 2015 tapped into renewable energy sources through successful bid for the renewable energy quota allocations from SEDA Malaysia. The group is currently operating two solar photovoltaic (PV) plants with capacity of 425kW and 300kW respectively.
In 2020, AT further diversified its business into the glove manufacturing business by manufacturing medical grade nitrile examination gloves and has since allocated more resources to develop its glove manufacturing business.
At 9.21am, AT was up 1 sen or 40% to 3.5 sen with 4.84 million shares traded, thus valuing the company at RM189 mil. – Feb 10, 2022
