ID :
335576
Thu, 07/17/2014 - 07:06
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Palco Eyes US$10.3 Mln Revenue For Next Five Years

GEORGE TOWN (Penang, Malaysia), July 17 (Bernama) -- US-based Palco Inc, a reverse logistics company, is eyeing a revenue of US$10.3 million (RM32.8 million) for the next five years following the setting up of its Asia-Pacific centre in Penang. Its group vice president, Phil C. Terry, the local unit, Palco Asia Pacific Sdn Bhd, was registered in Aug 17 last year. "Palco's total initial investment value for the first year is US$3.45 million (RM11 million), invested in March 2014 to set up the plant in Batu Maung after a request by one of its major customers in data storage industry to serve their Asia-Pacific market," he told reporters after the visit by company president, Randolph K. Piechocki, and Northern Corridor Implementation Authority (NCIA) Logistics division director, Kuan Eu Jin, here Wednesday. Terry said the group would not rely solely on one customer and it has plan to expand the customer base in this region. "We are hoping to secure more customers in future here as our worldwide customers include multinational telecommunication companies, computer manufacturers, data storage, web-hosting enterprises and many others," he said. He said that Palco delivered experience-based reverse logistics solutions for various industries, including aerospace and defence, communications, enterprise computing, healthcare and industrial. Terry said Palco picked Penang because it has excellent logistics facilities, connectivity cost competitiveness and the instrumental role played by NCIA in helping us. "We were impressed with the skilled manpower as our business operations require skilled manpower in the fields of electrical and electronic as we are involved in precision components, test modules and stringent quality standards. "We also depend heavily on air freight for the movements of mission critical products between us and our customers as they have to respond to their own markets' needs with speed," he said. Palco, with the worldwide employee strength of over 500 people, has been certified under ISO 9001, TL9000 for telecommunication industry and ISO-13485 for medical devices industry. -- BERNAMA

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