KUALA LUMPUR: Malaysian foundries and engineering supporting industry can expect an annual growth of 10% this year despite the current economic turmoil, said the the Federation of Malaysian Foundries and Engineering Industries Association (FOMFEIA).
In 2007, the country’s foundries and engineering supporting industry grew by 6.5% with export contributions of RM12.8 billion versus RM12 billion in the previous year.
FOMFEIA president Liew Chee Ming said recently the local foundries and engineering supporting industry would receive a further boost when it started the annual Foundry and Engineering Industries Show (FEIS) here from this year onwards.
The inaugural FEIS will be held in October in conjunction with the Metal Technology Show 2008 (MTS 2008) at the Putra World Trade Centre in Kuala Lumpur from October 23 to 26. It is expected to attract more than 100 local and international companies, while over 300 companies are anticipated to make their presence felt next year.
FEIS 2008 will feature a wide range of products and precision engineering services that caters to the needs of the sub-sectors for mould and dye, machining, metal casting, metal stamping, heat treatment, metal fabrication and surface treatment, among many others.
Liew said FOMFEIA and its members needed to adapt to the rapidly changing global business environment and to compete efficiently in the global market. He added that the annual FEIS would provide a platform for FOMFEIA to aggressively kick-start its marketing and promotional plans.
“With the growing demand of the manufacturing and industrial sectors both locally and regionally for more sophisticated and higher precision engineering technologies and skills, we are confident that our local industries, especially the SMEs, can benefit.”