METRONIC IN JV TO DEVELOP SMART FACTORIES WITH SPACE OPTIMISATION CONCEPT
KUALA LUMPUR, Oct 1 -- Metronic Global Bhd (Mtronic) is venturing into the design, research, planning, development and implementation of smart factories with space optimisation concept incorporating Industry 4.0 technology.
Its subsidiary, Metronic Smart Tech Sdn Bhd, yesterday signed a joint-venture (JV) agreement with Singapore company, JF Strategic Management Pte Ltd (JFSM) to form a JV company in the republic.
In a statement today, MTronic said these developments were planned within the industrial estate of Singapore where the scarcity of industrial land had led to high land cost and rental.
According to Mtronic's filing with Bursa Malaysia, the collaboration would involve a gross project value of up to US$15,000 (RM62.25 million).
Mtronic said its subsidiary would have an 80 per cent stake in the JV company, which would have a paid-up capital of SGD$500,000.
“The technologies of Industry 4.0 which would be deployed are machine-to-machine communication, supervisory control and data acquisition, overall equipment effectiveness, customised automation system design, high-mix-low-volume manufacturing design, process traceability and tracking system, remote monitoring and auto reporting, production floor safety and security and machine vision inspection system,” it said.
Mtronic said the proposed collaboration would enable the group to expand its business opportunities and explore the international market.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
