Thong Guan plans RM650mil 3-fold expansion

Group managing director Datuk Ang Poon Chuan(filepic) told StarBiz that the first part of the plan was to raise actual production output to 200,000 tonnes from 132,000 tonnes currently, with a RM150mil investment.

GEORGE TOWN: The 75-year old packaging firm, Thong Guan Industries Bhd, plans to grow its revenue and production capacity by more than three fold in the next 10 years.

The group has budgeted a capital expenditure of RM650mil to increase its production capacity to 400,000 tonnes and hopes that annual turnover would gradually rise to RM3bil.