KUALA LUMPUR: Industrial automation options supplier Greatech Technology Bhd is in search of potential partners to expand its footprint within the European market.
Chairman Ooi Hooi Kiang stated the enlargement might be via strategic alliance or merger and acquisition.
“We actively look out for potential partners that are consistent with our long-term enterprise methods and thus making a synergistic impact,” she stated within the firm’s annual report launched right now.
Ooi stated the board takes cognisant of the current battle between Russia and Ukraine and assesses its impression on the longer term development of the group similar to market pattern, enterprise dangers, human capital improvement, and enlargement plan.
She added that the establishing of an workplace within the United States and repair centre have began to reap outcomes because the group noticed an growing order guide coming via them.
“As a part of the group’s technique in constructing sustainable development, we at all times allocate 20 per cent sources in growing new sectors and market.
“Such a technique permits us to penetrate new sectors and thus construct sustainable pipelines for the order guide. And life science will likely be one of many key sectors we’ll deal with growing inside the subsequent 12 months,” she stated.
Ever since Greatech’s profitable penetration into the renewable power storage market in 2020, Ooi stated enterprise continues to flourish with excellent order guide rising to RM546.65 million in contrast to RM351.20 million beforehand.
“Over the years, we have now advanced from a single automated gear maker to an industrial automation options supplier for industries similar to photo voltaic, power storage, life science, lidar, and semiconductor,” she stated. – Bernama