Iconic Worldwide set to become the leading maker of gloves and face masks
BATU KAWAN: Iconic Worldwide Bhd aims to become a leading manufacturer of gloves and face masks with the opening of its RM200 million manufacturing facility here.
Executive Director James Tan Cho Chia said the company has already blocked massive orders for gloves and face masks, mainly from the United States (US), Europe, Africa and Asia, and that the new facility puts it on track to become a major player in the global market within five years.
“With a total investment of RM200 million, this factory is expected to have a minimum production capacity of 3.3 billion nitrile examination gloves and 220 million medical grade masks per year,” he said. in his speech at the official opening of the plant by Penang Chief Minister Chow Kon Yeow today.
Tan said the group will continue to expand its capacity as it aims to capture more market share of global demand for personal protective equipment (PPE), targeting export markets such as the United States, China, and China. Europe, Africa and the Middle East.
“Six double glove dipping lines have started operating at the factory, and by March 2022, a total of 12 double glove dipping lines and 20 medical mask production lines will be installed and put into operation. This would increase the group’s revenues and profits in the years to come.
“We are confident that we are well on our way to achieving our goal of becoming one of the leading manufacturers of gloves and face masks,” he added.
The factory, located on approximately 2.2 hectares of land, is 80% automated.
Tan said Iconic Worldwide remains optimistic about the outlook for the glove and face mask manufacturing industry and with the continued increase in demand for medical-grade products, the group sees huge opportunities in the area.
“The demand will be sustained post-pandemic as markets and leaders around the world realize the importance of PPE in preventing another pandemic outbreak,” he said.
Tan said that in the third and fourth quarters of its current fiscal year ending March 31, 2022 (fiscal 2022), Iconic Worldwide will ship approximately 500 million pieces of nitrile gloves to the United States, Europe, Africa, the Middle East and Southeast Asia.
“The sales will be partially taken into account in the group’s financial year 2022 accounts and fully realized during the financial year 2023”, he added. – Bernama