AT (0072) AT SYSTEMATIZATION BHD bags US$10mil contract from Swiss-based Rieter Machine to manufacture, supply aluminium parts

AT (0072) AT SYSTEMATIZATION BHD bags US$10mil contract from Swiss-based Rieter Machine to manufacture, supply aluminium parts

AT Systematization Bhd’s subsidiary AT Precision Tooling Sdn Bhd (ATP) has signed a two-year contract worth US$10 million (RM41.8 million) with Rieter Machine Works Ltd to manufacture and supply aluminium parts for the latter’s card and ring spinning

KUALA LUMPUR: AT Systematization Bhd's subsidiary AT Precision Tooling Sdn Bhd (ATP) has signed a two-year contract worth US$10 million (RM41.8 million) with Rieter Machine Works Ltd to manufacture and supply aluminium parts for the latter's card and ring spinning machines.

In a statement today, AT said the contract duration will be from January 1, 2022, until December 30, 2023.

Rieter, a Switzerland-based supplier of systems for short-staple fibre spinning, develops and manufactures machinery, systems, and components used to convert natural and man-made fibres and their blends into yarns with 17 manufacturing locations across 10 countries.

Under the two-year contract, AT would supply to Rieter a production quantity of about 950 sets of carding components and 1,800 crates spinning components, both are high precision components to be used in Rieter's textile machines.

AT managing director Choong Lee Aun said the latest contract signed with Rieter is a testament to their confidence in its capabilities and services in the last six years.

"We have established a strategic business relationship with Rieter since 2016 by providing high-quality precision tooling components to ensure Rieter's operational efficiencies and are very pleased that Rieter has recognized the value of AT.

"This new agreement demonstrates our continued ability due to our commitment to delivering the highest quality products and services, which will motivate us to continue to excel in what we do best," he said.

Cheong expects the contract to contribute positively to the company's earnings for the financial year 2022 until 2023 and to look forward to building strong business relationships with Rieter for the years to come.

https://www.nst.com.my/business/2022/02/770101/systematization-bags-us10mil-contract-swiss-based-rieter-machine-manufacture