OMG Fidelity (Malaysia) Sdn Bhd managing director, Sylvester Fong said today its Malaysian company, which commenced operations in December 1996 with an initial investment of RM40 million, had over 55 percent of the market share of the business worldwide at present.
"Combined with the volume supplied by our Newark plant in New Jersey, OMG Fidelity
's total worldwide market share is about 70 percent," he
told reporters during a site visit by Deputy Chief Minister and Industrial Development Minister Tan Sri Dr George Chan to its plant at SFTIZ here.He
said the Malaysian company, which posted a turnover of RM100 million last year, is a wholly owned subsidiary company of OM Group, Inc, USA.
Following the upgrading and expansion of its facilities in 2002, he
said its local production capacity had increased two-fold, with a 10-15 percent growth, and was projected to reach full capacity in three years' time.He
said electroless nickel chemistry for memory disk applications would be its major business, constituting about 86 percent of its Malaysian company 's total sales revenue.
The electronic grade specialty chemicals are critical components used in the coating of aluminium memory disks for the high technology data storage industry.
"As the primary high-capacity medium to record, store and retrieve digital data, hard disks play a key role in the emerging information age," he
said.He said its products were used by leading media makers worldwide to manufacture the most advanced disks drives found in the network file servers, engineering workstations, disk arrays and high-end personal computers and in consumer appliances.