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ACROMETA clinches record $31 million contract for semiconductor industry
- Record contract win since listing in 2016; places Group on higher platform
- Contract from renowned Customer in semicon industry; riding expansion wave
- Well positioned for post-COVID; recently completed R&D/production lab for COVID-19
SINGAPORE, Apr 22, 2022 - (ACN Newswire) - Catalist-listed AcroMeta Group Limited (ACROMETA; SGX: 43F), today announced that its wholly owned subsidiary AcroMec Engineers Pte Ltd (ACROMEC) has won a $31 million contract for the fit-out of an additional floor within the existing integrated advanced manufacturing facility in Singapore of a leading high-tech customer. When completed in 2023, the expansion will substantially increase its manufacturing capacity.
ACROMEC's specialties in controlled environment engineering
The ability to succinctly and precisely control physical variables such as temperature, air purity, humidity, and pressure in facility, like the product manufacturing space is a mission critical requirement. ACROMEC is ready to take on this project with the requisite track record, having completed numerous projects in clean rooms, laboratories and advanced manufacturing facilities.
Completion of previously announced project for Nasdaq-listed Genscript Biotech's Singapore R&D and manufacturing facility
ACROMEC'S strong track record is also seen having, earlier on, successfully completed the prestigious contract for the design and construction of Genscript's R&D and production laboratory facilities where they are used for the manufacture of the first-in-world C-Pass Serological Test Kit by the Duke University-NUS Medical School collaboration. C-Pass is a game-changing blood testing kit that determine a person's level of immunity against COVID-19 after vaccination.
Strong outlook for ACROMETA's controlled environment engineering business
ACROMETA Co-Founder, Chairman and CEO Lim Say Chin is heartened by the sizeable contract win. It reflects well on the high level of confidence that our Customer has on us. He said, "We are optimistic on the growth of our controlled environment business. Our business is well positioned for the Post-COVID world. We are having more customers investing in building facilities again for the future, both to prepare for the next pandemic and to prepare for technological growth. Indeed, we see activities building up in the biotechnology and semiconductor sectors, and we are glad to serve this space."
The contract is expected to commence soon and will materially contribute positively to the earnings per share and net tangible assets per share of the Group for the financial year ending 30 September 2022.
SGXNET Reference: https://tinyurl.com/SGX-43F-20220422
About AcroMeta Group Limited [SGX: 43F] [RIC: ACRI.SI] [BB: ACRO.SP]
AcroMeta Group Limited (previously AcroMec Limited) is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.
ACROMETA's business is divided into two main segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.
The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.
The company has been listed on the Catalist board of the SGX since 2016, and became AcroMeta Group Limited (previously AcroMec Limited) on February 18, 2022. For more information, please visit www.acrometa.com.
Media and Analysts Contact:
ACROMETA Group Limited
Mr Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com
Waterbrooks Consultants Pte Ltd
Mr Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg
This media release has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.
Source: AcroMeta Group Limited
Sectors: Electronics, Daily Finance, Healthcare & Pharm, Funds & Equities
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