INTEGRATED one-stop sterilisation and logistics service provider SterilGamma (M) Sdn Bhd, en route to a listing on Mesdaq by the end of this year, is ready to spread its wings to China
Its managing director, Syed Ali Aljfrri Syed Jan Aljfrri said everything was in place and the company would proceed with the expansion after Chinese New Year.
We are looking at the possibility of a joint-venture plant with a local company. We will bring in our technology and expertise, he told reporters after signing an agreement with Maersk Medical A/S for the acquisition of the latters subsidiary, Maersk Medical Sdn Bhd, in Kuala Lumpur on Thursday.
He said SterilGamma would have the advantage over other sterilisation providers in China as the company was fully certified with internationally recognised quality certifications.
Currently products in China go through sterilisation in the United States before being exported to other countries as sterilisation providers in China were not certified, he said, adding that the new plant would probably be based in Shanghai.
Under yesterday's agreement, SterilGamma will acquire the entire equity stake in Maersk Medical, an ethylene oxide (EtO) gas sterilisation service provider.
SterilGamma also signed back-to-back sterilisation contracts with Euromedical Industries Sdn Bhd, a 75% subsidiary of Maersk Medical A/S.
With this acquisition, SterilGamma projected an increase in revenue from RM12mil last year to RM20mil for the 2003 financial year.
Our pre-tax profit is about 45% of our turnover every year, Syed Ali said.
SterilGamma was incorporated in 1992 and commercialised two years later.
Today it is the country's sole independent contractor providing sterilisation and decontamination service using gamma radiation.
Currently, more than 50 companies from Asean countries utilise its sterilisation services. Bernama