KUALA LUMPUR (June 4): Steel products and equipment maker Prestar Resources Bhd has inked a deal with Murata Machinery, Ltd (Japan) to supply automated storage and retrieval system (ASRS) racking system for the latter’s worldwide market.
In a statement, Prestar said Murata is one of the largest designers and manufacturers of material handling systems in Japan with leading edge in the manufacturing of automation integrator serving a global market in a wide range of industries.
Prestar said its unit Prestar Storage System Sdn Bhd had on June 3, 2020 entered into a manufacturing partnership agreement with Murata’s logistic and automation division.
Prestar Storage provides storage solutions, installing all kinds of material handling equipment and manufacturing of racking and shelving system products under the brand name MyStar.
Prestar group managing director Datuk Toh Yew Peng said the collaboration will provide Prestar Storage with a growth opportunity to participate in the supply of ASRS for Murata’s global market including the US, Japan, China and ASEAN countries as well as leveraging on its core to achieve greater success in the factory automation sector.
“It is believed that the collaboration will enable both companies to leverage on their respective core for greater success in the factory automation sector.
“Not to mention the effect of Covid-19 which escalated the rise in awareness of Industrial 4.0 and IoT(Internet Of Things) and as well as adoption of automated solutions across the industries,” he added.
He said that in addition, the collaboration is expected to give Prestar Storage the instant accessibility for supplying ASRS Racking System to e-commerce, pharmaceutical, manufacturing, retailing, distribution and logistics industries.
Prestar said the deal is expected to contribute positively towards its earnings for the financial year ending Dec 31, 2020.
At 11.59am, Prestar was unchanged at 33.5 sen, for a market capitalisation of RM68.62 million.
#dudukrumahdiamdiam and get the news at theedgemarkets.com.