GEORGE TOWN: With a substantial order for its solar packaging materials in hand, Ire-Tex Corp Bhd expects its 2014 revenue to improve significantly over 2013.
Group managing director Datuk Donald Yap told StarBiz that the order was recently secured from a solar power multinational corporation operating in the Asean region.
“The materials are being produced at our new plant in Kulim Industrial Estate, and will be delivered from now till the final quarter of 2014.
“Because of this order, our monthly output of heavy duty packaging materials for the solar panel and aerospace industries would increase to more than 2,000 tonnes valued at RM7mil monthly,” he said.
Yap said the solar panel and the aerospace would account for over 50% of the group’s 2014 revenue, compared with 45% last year.
“More than 40% will come from the solar panel packaging business, while the aerospace segment will generate the rest.
“We are also getting new orders for aerospace packaging materials from Boeing and Airbus wing manufacturers in the country” he said.
Yap said the relocation of its manufacturing operations in Bukit Tengah to Kulim would incur cost that would eat into Ire-Tex’s revenue and bottomline for 2014.
On the group’s proposed acquisition of Zoomic Automation Sdn Bhd and Zoomic Technology Sdn Bhd, Yap said Zoomic’s automation business would assist Ire-Tex plant to automate its packaging material manufacturing process.
“Should we engage a vendor to automate the plant, we will need to spend RM24mil.
“Zoomic’s strong networking in industrial automation business will also help us to diversify our earnings and reduce our dependency on our core packaging material manufacturing business.
“Zoomic’s business is expected to generate about 25% of the group’s business this year,” Yap said.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
