Cirtek subsidiary aiming to triple revenues in 2016

By April 1, 2016Property News
Cirtek

THE UNIT of Cirtek Philippine Holdings Corp. (CHPC) is projecting revenues to triple this year, as it commences the production of antennas for a New York-based company, the listed technology firm said in a statement.

CHPC put up a $6-million production facility at Cirtek Advanced Technologies and Solutions, Inc.’s (CirtekATS) new 6,000-square-meter (sqm) manufacturing plant at the Laguna Technopark to support its multi-year contract with Quintel signed in November last year.

CirtekATS added over 200 workers, engineers and managers for the project, estimated to generate up to $20 million in revenues for the first 12 months with the potential to double within the next two to three years.

“CirtekATS continues to ramp up to support the growing demands of Quintel. CirtekATS expects revenue to triple this year reaching $36 million,” the manufacturer said.

The Cirtek subsidiary plans to roll out new products over the next several months.

Based in Rochester, New York, Quintel is the “leading innovator in the design, development, and delivery of network-efficient multi-port slimline cellular case station antennas.”

Quintel simplifies rollout complexity with practical antenna solutions that quickly increase capacity and coverage within diverse heterogeneous networks, enabling mobile operators to quickly and easily grow their networks and not their budget, CHPC said.

CirtekATS manufactures micro and millimeter wave products for telecommunications, satellite communications, semiconductor test boards, industrial and automotive equipment.

An outsourced semiconductor and assembly and test firm, CHPC aims to expand its business portfolio to become a complex original equipment manufacturer.

Source: http://www.bworldonline.com/content.php?section=Corporate&title=cirtek-subsidiary-aiming-to-triple-revenues-in-2016&id=125301

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