SINGAPORE - Local precision engineering firm Feinmetall launched a new S$6 million digital manufacturing facility in Marsiling on Wednesday (June 28), which it sees increasing revenue by up to 115 per cent and creating 38 high-value jobs over the next four years.
The facility makes use of technologies such as those piloted in A*Star's Model Factory initiative, which allows the company to analyse machine data, develop measures to minimise stoppage, and plan machine maintenance schedules effectively.
The company is also working with A*Star to undertake innovation projects through the secondment of research scientists and engineers under the Technology for Enterprise Capability Upgrading scheme.
Minister for Trade and Industry (Industry) S Iswaran said the Government will continue to support small and medium-sized enterprises (SMEs) in their transformation to adopt digitalisation and advanced manufacturing technologies.
This includes efforts under the S$3.2 billion set aside under the Research, Innovation and Enterprise (RIE2020) plan to develop technological capabilities in the advanced manufacturing and engineering domain, as well as the Precision Engineering Industry Transformation Map launched in October last year.
Mr Iswaran, who was speaking at the opening of the 6,700 sq ft facility, said digital manufacturing is a key enabler to ensure competitiveness of the manufacturing sector here, which remains an important pillar of the economy.
"The digitisation of manufacturing - which some refer to as Industry 4.0 - Is fundamentally transforming the sector. Advanced manufacturing technologies such as robotics and automation, Industrial Internet of Things (IIoT), manufacturing data analytics and business-intelligence capabilities are disrupting the sector and business models," he noted.
"Feinmetall's Singapore digital manufacturing facility is an excellent example of how our SMEs are stepping up to build capabilities, through digitalisation, to seize growth opportunities, and serves as a positive success story and role model for other SMEs," said Mr Iswaran.
"As manufacturing becomes more globalised, it is essential that our local SMEs continue innovating to remain competitive and tap new opportunities for growth," he said.