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KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and Italian oil company Eni’s chemical unit say they have inked a joint-venture agreement to make synthetic rubber in Malaysia.
TOP Glove Corp Bhd plans to rapidly ramp up capacity at its relatively new synthetic rubber glove manufacturing division in China to replicate the group's achievement in the natural rubber glove sector. 'We have just bought 30 acres in China for the expansion,' executive chairman Datuk Dr Lim Wee Chai told I>StarBiz/Iat a meeting in his office in Klang.
The price of rubber has managed to remain relatively steady despite a steep correction in prices of other commodities due to burgeoning demand. An increase in the consumption of rubber as well as high prices of crude oil, which is used to make synthetic rubber, had pushed up natural rubber prices in recent months, experts said.
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.
KUALA LUMPUR: Petronas, Malaysia’s national oil and gas company, and Versalis, Eni’s chemical subsidiary and a global leader in the elastomers industry, have signed a shareholders’ agreement to set up a joint venture company that will manufacture, sell and market elastomers produced within Petronas’ proposed Refinery and Petrochemical Integrated Development (Rapid) complex in Pengerang, Johor, Malaysia.