Genetec's order book rises RM106m (BT)

Genetec's order book rises RM106m: "ACE-listed high-precision engineering design and build specialist Genetec Technology Bhd has secured new orders amounting to RM27.9 million, bringing its current order book secured to date to RM106.4 million.

The substantial order book, which is about 96 per cent of the nine-month period ended Dec 31, 2011 revenue of RM110.6 million, represents a strong start for Genetec for the next financial year.

"The global demand for hard disk drives (HDD) has strengthened in tandem with the growing demand for more cost-effective but also ever-increasing storage space," said its executive chairman Ron Ortscheid in a statement today.

"In addition to the HDD segment being the company’s main growth driver in the coming quarters, we are also striving towards securing more non-HDD orders to balance our income stream," he said.

Ortscheid said the momentum of activities in Genetec's USA operations was also picking up with these operations contributing 33 per cent to the group's current order book. - Bernama "

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