According to Malaysian media reports, Top Glove, the world's largest rubber glove manufacturer, recently said it is striving to achieve the world's number one nitrile rubber glove production by the end of this year.
China Rubber Network learned that the group has been working to expand its production capacity two years ago and plans to increase the annual production of nitrile rubber gloves by 25 billion to 30 billion by the end of this year.
Lin Weicai, president and CEO of Top Glove Group, said that next year's top glove nitrile rubber gloves will increase production capacity by 15.8 billion. In addition to other types of rubber gloves, the top glove group's annual production capacity will increase to 83.3 billion.
In order to achieve this plan, the top glove group has an annual equipment investment of 400 million ringgit for increased production capacity. Last year, the Group’s exports of nitrile rubber gloves increased by 4.9 billion from the previous year, an increase of 36%.
Lin Weicai said that Sino-US trade friction has not affected the Group's operations, but trade friction is not a good thing, and it is hoped that it will be resolved soon.
Lin Weicai believes that as long as the best efforts are made, the top gloves can become the world's largest manufacturer of nitrile rubber gloves.
According to statistics, in the first three quarters of fiscal year 2019 (July 2018 to March 2019), the top glove group achieved sales of RM3.61 billion (about 5.997 billion yuan), an increase of 20.5% over the same period last fiscal year. The net profit was RM190.5 million (approximately RMB 487 million), a decrease of 12.5% year-on-year.