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Leading rubber glove manufacturer Top Glove Sdn Bhd believes that prices could go up as much as 10% for gloves in view of the rising price trends for latex concentrate and crude oil, both of which are key components in natural rubber and synthetic rubber gloves.
MERGERS and acquisitions (MAs) are expected to remain a prominent feature in the local natural rubber (NR) glove industry this year.
Top Glove Corp Bhd expects revenue to touch RM900mil for the year ending Aug 31, 2006, from RM641.8mil a year earlier. This would be achieved on the back of the group's aggressive expansion plans, said executive chairman and chief executive officer Datuk Lim Wee Chai.
AKN Technology Bhd (AKN Tech), which yesterday posted a net loss of RM14.2mil or a loss of 12.25 sen a share for its second quarter ended Sept 30, announced it was planning to buy a chemical coating supplier to the rubber glove industry to diversify its business away from the volatile semiconductor industry.