Top Glove expanding its business
Filed Under (Business News) by Webmaster on 25-06-2010
Tagged Under : Top Glove
TOP Glove Corp Bhd (7113), the world’s largest rubber glove maker, plans to spend RM80 million until May next year to set up three new plants and increase production lines.
Chairman Tan Sri Dr Lim Wee-Chai said the expansion will bring the number of its factories and production lines to 20 and 459 respectively, producing 41.2 billion pieces of rubber gloves a year.
“The global rubber glove market is growing every year and we have to be consistent by increasing capacity, improving research and development and being more cost-efficient,” Lim told an analyst and media briefing in Kuala Lumpur yesterday.
Furthermore, the oil spill at the Gulf of Mexico in the US has seen a 40 per cent increase in rubber glove demand.
“Demand for cleanroom and safety gloves has surged as environmental groups and oil and gas workers require them for the clean-up,” said Lim.
He said the industry outlook was likely to be sustained, which would see the company register net profit growth of up to 10 per cent a year as in the past few years.
Top Glove currently has 17 factories, out of which 11 are in Malaysia, four in Thailand and two in China. They produce 33 billion pieces of rubber gloves a year, or some 33 per cent or more of the world rubber glove market.
The Klang-based company has 10,900 employees, more than 900 customers worldwide and exports to more than 180 countries.
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