KUALA LUMPUR: AT Systematization Bhd’s (ATS) wholly-owned unit AT Precision Tooling Sdn Bhd (ATP) has entered into a Value Contract with Maschinenfabrik Rieter AG (Rieter) to produce aluminium profiles for Rieter’s Card and Ringspin sector amounting to US$10 million (US$1=RM4.18).

       In a filing with Bursa Malaysia today, ATS said the period validity is between Jan 1, 2022 and Dec 30, 2023.

       The value contract is not expected to have any material impact on the net assets of the group for the financial year ending March 31, 2022.

       ATP had previously signed a basic purchase agreement with Rieter on July 5, 2019, for the manufacture and supply of high-quality machined components such as aluminium profiles to be used in textile machines by ATP to Rieter. - Bernama