Malaysian Protective Packaging Maker Ire-Tex to Enter LED Market

Ire-Tex, a Malaysian company specializing in protective plastic packaging for electronics has announced plans of entering LED market, after acquiring an automation, electronic design and packaging company Zoomic Automation and Zoomic Technology, according to a recent report by Malaysian media The Star.

The company is believed to have acquired the two companies for about MYR 16 million (US $4.98 million), and has received a contract valuing more than MYR 100 million from a local firm, to manufacture LED lights for oversea markets.

The contract likely to be awarded to Zoomic Automation, that has LED production capacity will be making LED products to be exported to Japan and Thailand in the next three years, said a source.

The LED business is expected to bring Ire-Tex higher profit margins than the current protective packaging material for computer and electronic product business. In a previous interview with StarBiz, Ire-Tex group managing director Datuk Donald Yap said Zoomic operations will generate 25 percent of the company’s revenue this year.

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