VS Industry Bhd’s wholly owned subsidiary Guardian South East Asia Pte Ltd has entered into a master supply agreement with Victory Innovations Company Inc to produce cordless electrostatic disinfectant sprayers for sanitisation purposes.
In an Aug 17 statement, VS said it will manufacture cordless electrostatic handheld and backpack sprayers on box-build assembly basis, that is, provision of end-to-end processes from production to assembly, testing, packaging, labelling and logistics fulfilment.
“The contract sum under this agreement shall be based on purchase orders placed over the period,” VS said.
Victory was founded in 2014 with its headquarters located in Minnesota, US. The company produces sanitisation equipment and has distribution channels in 40 countries.
But VS will be Victory’s first supplier in Southeast Asia.
“The ongoing US-China trade dispute provided us the opportunity to establish this relationship with Victory,” VS managing director S.Y. Gan said in a statement.
Gan said the group expected the agreement to “contribute positively” towards group earnings from the financial year ending July 31, 2021.
VS’ shares opened 0.61% higher at RM1.65, giving the company a market capitalisation of RM3.14 bil. – Aug 18, 2020
