Greatech Technology seeks potential partners to expand into Europe

KUALA LUMPUR: Industrial automation solutions provider Greatech Technology Bhd is looking for potential partners to expand its footprint in the European market.

Chairman Ooi Hooi Kiang said the expansion could be through strategic alliance or merger and acquisition.

"We actively look out for potential partners which are in line with our long-term business strategies and thus creating a synergistic effect,” she said in the company’s annual report released today.

Ooi said the board takes cognisant of the recent conflict between Russia and Ukraine and assesses its impact on the future growth of the group such as market trend, business risks, human capital development, and expansion plan.

She added that the setting up of an office in the United States and service centre have started to reap results as the group saw an increasing order book coming through them.

"As part of the group’s strategy in building sustainable growth, we always allocate 20 per cent resources in developing new sectors and market.

"Such a strategy allows us to penetrate new sectors and thus build sustainable pipelines for the order book. And life science will be one of the key sectors we will focus on developing within the next 12 months,” she said.

Ever since Greatech's successful penetration into the renewable energy storage market in 2020, Ooi said business continues to flourish with outstanding order book growing to RM546.65 million compared to RM351.20 million previously.

"Over the years, we have evolved from a single automated equipment maker to an industrial automation solutions provider for industries such as solar, energy storage, life science, lidar, and semiconductor,” she said. - Bernama