Group18_Hartalega - constructing its fifth plant with 12...

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Hartalega To Invest MYR160M To Expand Production Capacity 239 words 1 June 2009 00:47 Dow Jones Commodities Service DJCS English SINGAPORE (Dow Jones)--Malaysia-based Hartalega Holdings, the world's second-largest producer of synthetic rubber gloves, plans to spend around MYR160 million over the next two years to expand production capacity by almost 70% by 2012, Managing Director Kuan Kam Hon said. The higher production is aimed to cater to a rising demand for rubber gloves amid pandemics such as swine flu and a growing healthcare sector, particularly in emerging economies such as India and China, Kam Hon told Dow Jones Newswires late Friday. "Our current (annual) production capacity is around 6.2 billion single glove pieces and we plan to increase it to 8.2 billion by 2011 and 10.5 billion by 2012," said Kam Hon. He said late last year, Hartalega commissioned its fourth plant with 10 production lines, adding it has started
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Unformatted text preview: constructing its fifth plant with 12 lines, which is likely to be fully commissioned by April 2011. Kam Hon said the company also plans to reconstruct its first plant beween September 2010 and April 2011 to increase the speed of production by upgrading technology. "Constructing the fourth and fifth plants and reconstructing the first one involves an investment of close to MYR300 million, of which around MYR140 million have so far been spent," he said.-By Sameer Mohindru, Dow Jones Newswires; +(65) 6415-4085; sameer.mohindru@dowjones.com [ 06-01-09 0100ET ] Document DJCS000020090601e5610000c 2010 Factiva, Inc. All rights reserved. Factiva http://global.factiva.com.lp.hscl.u.edu/hp/printsavews.aspx?pp. .. 1 of 1 3/14/10 4:32 PM...
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This note was uploaded on 01/11/2012 for the course EIN 4354 taught by Professor Tufecki during the Fall '08 term at University of Florida.

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