AT Systematization Berhad announced its wholly-owned subsidiary AT Precision Tooling Sdn Bhd has signed a 2-year Value Contract with Switzerland-based company, Rieter Machine Works Ltd to manufacture and supply aluminium parts for Rieter’s card and ring spinning machines worth USD10 million.
The duration of the Value Contract will start from 1 January 2022 until 30 December 2023. Under the 2-year Value Contract, AT will be supplying to Rieter a production quantity of approximately 950 sets of carding components and 1,800 crates spinning components, both are high precision components to be used in Rieter’s textile machines.
Rieter is the world’s leading 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.
“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, a result of our commitment to delivering the highest quality products and services which will motivate us to continue to excel in what we do best,” Choong Lee Aun, Managing Director of AT said.
“We expect this contract to contribute positively to our earnings for the financial year 2022 until 2023 and looking forward to continuing building strong business relationships with Rieter for the years to come,”Choong Lee Aun added.