Tuesday, December 20, 2011

Genetec secures RM13.1m new orders from hard disk drive sector

KUALA LUMPUR (Dec 20):'' Machine design specialist, Genetec TECHNOLOGY [] Bhd has secured RM13.1 million in orders from the hard-disk drive sector, increasing the total order to about RM20.7 million.

Genetec's executive chairman Ron Ortscheid said on Tuesday this was significant as the new orders are 'indicative of the recovery in the HDD sector following the Thailand flood a few months ago'.

He hoped the ACE-listed company would be able to secure more new orders to cater to the recovering demand.

The RM13.10 million in orders from the HDD sector was out of the RM16.50 million new orders clinched, said Ortscheid.

He expected the new orders to contribute positively to Genetec's financial year ending March 31, 2012.

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