BATU KAWAN: Iconic Worldwide Bhd aims to become a leading glove and face mask manufacturer with the opening of its RM200 million manufacturing facility here.
Executive director James Tan Cho Chia said the company had already locked in mass orders for gloves and face masks, predominantly from the United States (US), Europe, Africa, and Asia, and the new facility puts it on the right track to become a major player in the global market within five years.
"With total capital investment of RM200 million, this factory is expected to have a minimum production capacity of 3.3 billion pieces of nitrile examination gloves and 220 million pieces of medical grade face masks per annum," he said in his speech at the official opening of the factory by Penang Chief Minister Chow Kon Yeow today.
Tan said the group would continue to expand its capacity as it aimed to capture more market share from the global demand for personal protective equipment (PPE), targeting export markets such as the US, Europe, Africa, and the Middle East.
"Six double former glove dipping lines have started running at the factory, and by March 2022, a total of 12 double former glove dipping lines and 20 medical face mask production lines will be installed and commissioned. This would boost the group's revenue and profit in the coming years.
"We are confident that we are on track to achieving our aim to become the one of the leading glove and face mask manufacturers," he added.
The factory, sited on about 2.2-hectare land, is 80 per cent automated.
Tan said Iconic Worldwide remained bullish on the glove and face mask manufacturing industry outlook and with the continued surge in demand for quality medical-grade products, the group projected huge opportunities in the sector.
"The demand will be sustainable post-pandemic as markets and leaders worldwide are aware of the importance of PPE to prevent another pandemic outbreak," he said.
Tan said in the third and fourth quarters of its current financial year ending March 31, 2022 (FY2022), Iconic Worldwide will ship out some 500 million pieces of nitrile gloves to the US, Europe, Africa, the Middle East and Southeast Asia.
"The sales will be partially factored into the Group’s FY2022 accounts, and fully realised in FY2023," he added. - Bernama