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Friday, January 24, 2014

Kossan to set up RM10mil plant in Indonesia

Source: http://www.thestar.com.my/Business/Business-News/2014/01/24/Kossan-to-set-up-RM10mil-plant-in-Indonesia/

PETALING JAYA: Kossan Rubber Industries Bhd plans to build a technical rubber product manufacturing plant worth RM10mil in Jakarta in the second half of the year to tap Indonesia’s growing automotive industry.
General manager of group corporate affairs and business development Edward Yipsaid the company had acquired 2.2ha of industrial land in Jakarta for about RM6.6mil last year.
“We are upbeat on the Indonesian market’s potential.
“It has one of the highest car sales recorded, on par with China in the last two to three years,” he said at the “Spotlight on Malaysia 2014” forum.
He said the construction of the plant would take about eight months to complete.
Yip said Kossan was also looking to grow its rubber gloves production in Vietnam.
The glove maker is targeting its earnings to grow 20% to 25% in the next three years, excluding the expansion in Indonesia.
He said the group expected its glove manufacturing capacity to grow by five to six billion pieces to reach 22 billion upon completion of its three plants in the Klang Valley this year.

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