AT Systematization bags worth $10 million contract for production of aluminium profiles
AT Systematization Bhd’s (ATS), the fully owned manufacturing unit of AT Precision Tooling Sdn Bhd (ATP) has set foot into a value contract with Maschinenfabrik Rieter AG (Rieter) towards the production of aluminium profiles for Rieter’s Card and Ringspun sector, which amounts to $10 million.
On 9th February 2022, during the filing in Bursa Malaysia, the stock exchange of Malaysia, based in Kuala Lumpur, ATS stated, “The period for production validity is between Jan 1, 2022, and Dec 30, 2023.”
However, the company also added, “The value contract is not expected to have any material impact on the net assets of the group for the financial year ending 31st March 2022.”
On 5th July 2019, ATP had inked a basic purchase agreement with Rieter, for the manufacture and supply of high-quality machined components such as aluminium profiles to be used in textile machines by ATP to Rieter.
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