Rubberex proposes RM78.6mil share placement for capacity expansion 


KUALA LUMPUR: Rubberex Corp (M) Bhd has proposed to place out as much as 83.2 million new shares as the glove maker seeks to cash for its capacity expansion.

The company has announced plans to build a third nitrile disposable glove factory near Ipoh, Perak, which was projected to increase the group's production capacity from current 2.5 million pieces a year to 10 million pieces.

"The Board believes that the increase in nitrile disposable gloves production lines will contribute positively to the future earnings of Rubberex Group," the glove maker said in a filing with Bursa Malaysia today.

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Rubberex Corp , glove maker

   

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