Wednesday, October 19, 2011

AT Systematization unit in Thailand halts operations

KUALA LUMPUR: AT SYSTEMATIZATION BHD []'s wholly-owned subsidiary, Automation TECHNOLOGY [] Systematization Industries Limited (ATSi) has temporarily closed its operations in Thailand.

ATSi is principally engaged in procurement of design and assembles automatic machines according to purchase orders.

In a statement Wednesday, Oct 19, AT Systematization said ATSi had shut down the operations of its manufacturing facilities from Oct 13 due to the unexpected severe flood condition in Thailand.

It said that the premises of ATSi were not affected by flood but had been forced to shut down as its workers were unable to turn up for work due to the crippled transportation system.

'The company and its local team are in the process of monitoring the events leading to this and working on the recovery plan,' it said.

AT Systematization said the financial effect on its earnings for the financial year ending Feb 29, 2012 would depend on the amount of damages and the extent of its recovery which could not be ascertained at the moment.


No comments:

Post a Comment