BATU KAWAN: Iconic Worldwide Bhd goals to become a leading glove and face mask manufacturer with the opening of its RM200 million manufacturing facility right here.
Executive director James Tan Cho Chia mentioned the corporate had already locked in mass orders for gloves and face masks, predominantly from the United States (US), Europe, Africa, and Asia, and the brand new facility places it on the appropriate track to become a significant participant within the world market inside 5 years.
“With whole capital funding of RM200 million, this manufacturing facility is predicted to have a minimal manufacturing capability of three.3 billion items of nitrile examination gloves and 220 million items of medical grade face masks every year,” he mentioned in his speech on the official opening of the manufacturing facility by Penang Chief Minister Chow Kon Yeow right now.
Tan mentioned the group would proceed to develop its capability because it aimed to seize extra market share from the worldwide demand for private protecting gear (PPE), concentrating on export markets such because the US, Europe, Africa, and the Middle East.
“Six double former glove dipping strains have began working on the manufacturing facility, and by March 2022, a complete of 12 double former glove dipping strains and 20 medical face mask manufacturing strains can be put in and commissioned. This would increase the group’s income and revenue within the coming years.
“We are assured that we’re on track to reaching our goal to become the one of many leading glove and face mask producers,” he added.
The manufacturing facility, sited on about 2.2-hectare land, is 80 per cent automated.
Tan mentioned Iconic Worldwide remained bullish on the glove and face mask manufacturing business outlook and with the continued surge in demand for high quality medical-grade merchandise, the group projected large alternatives within the sector.
“The demand can be sustainable post-pandemic as markets and leaders worldwide are conscious of the significance of PPE to forestall one other pandemic outbreak,” he mentioned.
Tan mentioned within the third and fourth quarters of its present monetary 12 months ending March 31, 2022 (FY2022), Iconic Worldwide will ship out some 500 million items of nitrile gloves to the US, Europe, Africa, the Middle East and Southeast Asia.
“The gross sales can be partially factored into the Group’s FY2022 accounts, and absolutely realised in FY2023,” he added. – Bernama