Vitrox investing in new Penang facility


  • Business
  • Wednesday, 17 Aug 2005

Chu Jenn Weng

VITROX Corp Bhd, scheduled for listing on the Mesdaq market next month, is investing some RM9mil to establish a new facility in Bayan Lepas Industrial Park, Penang. 

About RM6mil of the amount would be generated from the company's initial public offer (IPO) and the remainder from internally generated funds, group managing director Chu Jenn Weng said after the launch of Vitrox's prospectus by Penang Chief Minister Tan Sri Dr Koh Tsu Koon yesterday. 

The IPO is expected to raise proceeds of RM10.56mil, of which RM3.04mil will be allocated for overseas market expansion, and research and development (R&D) purposes.  

Now under construction, the facility will be involved in R&D, and assembly and testing of equipment. It is scheduled to begin operations in the first quarter next year. 

Chu said that after listing, the group would pursue plans to penetrate markets in Europe, Japan, Taiwan, China and the US. ”The immediate plan is to set up offices in China and Taiwan,” he said. 

Chu said the group’s competitive edge was in its ability to produce state-of-the art high-speed vision inspection systems for semiconductor manufacturers locally and overseas. 

“Our automated system, comprising hardware components and proprietary software from the group, acts as the intelligence behind the machinery to assist semiconductor manufacturers in inspecting the quality of their products at high speed, with accuracy level being one-tenth of a strand of human hair, or a high-speed check of 30 components in a second. 

“The automation of the inspection process enables Vitrox’s clients to cut down on waste caused by mechanical and dimensional effects,” he added. 

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