Top Glove Says Demand Very Strong During Pandemic
https://www.youtube.com/watch?v=PY2WwTAPqL4
Global demand for gloves is growing steadily at 10% to 12% per annum driven by strong market fundamentals.
1. Vaccine, a curb on glove demand?
2. Stockpile on gloves
3. New entrants, a cause of oversupply
4. Will US Customs detention order be revoked by year-end?
5. Migrant workers issues
6. Share buyback scheme
Most robust was demand for nitrile gloves which grew by 31% year-on-year, while natural rubber examination gloves also saw growth of 7% versus the corresponding period in FY19.
Factory F41, which is the group’s first factory in Vietnam, is expected to come onstream in October 2020, the initial production capacity for which is approximately 2.4 billion pieces of gloves from its 10 production lines.
On the capex front, the group has earmarked RM8 billion for the next six years, from FY21 to FY26, which will increase an additional capacity of 100 billion pieces of gloves.
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