“… In addition to the new investment, the group will also spend RM20mil to upgrade and increase the equipment for the existing four plants in Seberang Jaya.”
PIE to upgrade facility for RM40mil
GEORGE TOWN: PIE Industrial Bhd is investing over RM40mil for a new facility equipped with innovative cost-saving manufacturing processes in Seberang Jaya.
Group managing director Alvin Mui told that the 60,000 sq ft plant, located on four acres, would be renovated soon.
“By early next year, it should be ready for operations to manufacture parts and components to support our box-built equipment used in the telecommunication, automotive, and medical industries.
“We have been outsourcing the manufacturing of such parts and components to third parties.
“This new investment will help us to save substantially and improve the bottom line for the box-built business division,” Mui said after the company’s AGM.
In addition to the new investment, the group will also spend RM20mil to upgrade and increase the equipment for the existing four plants in Seberang Jaya.
“This includes adding another 40 new equipment for the injection moulding business, which started a year ago with 30 machines.
“The injection moulding parts are used in our box-built equipment,” Mui added.
The group will start the production for large commercial touched-screen panels using surface attenuation wave technology in the third quarter of this year.
“The touch-screen panels, which will be shipped to the Unite States, is expected to be significant revenue and bottomline contributors in 2016,” he said.
Mui added the group was now in the mass commercial production stage for its portable oxygen concentrators used in the healthcare sector.
“We started production late last year for US customers.
“They are very happy with the products and have indicated that the orders will run on a long-term basis,” Mui added.
For the first quarter ended March 31 2015, the group posted a pre-tax profit of RM12.4mil on the back of RM111mil revenue.
It made a pre-tax profit of RM11.9mil and RM157mil in revenue in the previous year’s corresponding period.
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