PIE’s RM30 million diversification plan

by | Aug 22, 2023 | Business, INTERNATIONAL, LOCAL, NATIONAL, NEWS | 0 comments

PIE Industrial Bhd is investing RM30 million to renovate two plants manufacturing box build and printed circuit board assembly (PCBA) meant for the aviation, medical and industrial electronic industries.

Both these plants are expected to have some 400,000 sq ft of manufacturing space after renovation and be equipped with new machinery and be ready for production at the latest in the first quarter of 2024.

The group has also sealed contracts recently to produce the new products for US based customers and will begin with small scale production for some of the products this year but production will be ramped up next year.

The group stated that one of their new contracts include developing box built medical equipment to detect cancerous cells in the mouth and throat and this is why they will integrate the electronic components into a complete medical equipment unit.

Other factors such as an ageing population and an increasing prevalence of chronic diseases and emerging markets with sizable healthcare budgets will ensure that the medical device market is set to expand.

The group will also produce PCBA modules for controllers used in smart homes and industrial electronic products to detect air quality in the environment as part of a strategy to boost their manufacturing segment.