thong guan continues expansion

by:Labelong Packaging Machinery     2020-04-17
Increase RM30mil of production line and R & D equipment in Sg petangeorge TOWN: Thong Guan Bhd is spending RM25mil-
RM30mil added new production lines and equipment for its R & D in 2016 (R&D)
The center stands in Shuangxi in this website.
Datuk Ang Poon Chuan, general manager of the group, told StarBiz that the group will end its three-year RM100mil expansion this yearyear period.
\"In the past two years, we have spent more than 60 yuan on expansion activities.
\"Next year, after the German K exhibition in September, we will come up with a new budget to develop a new business plan --
October, \"he said.
The new production line will increase the group\'s total production of packaged products by more than 20% from 110,000 tons last year, Ang said.
\"As a result of the festive period, 2016 has been slow so far, but we still expect orders to improve compared to last year.
\"Based on customer feedback, we also expect the second quarter to improve from the same period last year,\" he said . \".
According to Ang, the key drivers of growth will come from recently launched packaging materials such as nano-materials
Stretch film material, stretch cover material and film for automatic use
Packaging machine.
\"Customers in Korea, South Africa, Australia, Vietnam and Malaysia are in demand.
\"The Malaysian market has consumed about 15% of stretch film products and is expected to grow in the next two years,\" Ang said . \".
About PVC of the group (PVC)
For the food packaging business, the group is looking to expand the floor for PVC food packaging production, which has a utilization rate of more than 85%.
\"We plan to spend $4 m on new production lines by mid term2016.
\"The market for PVC food packaging is mainly from ASEAN and China-East countries.
\"We have also received orders from countries such as Azerbaijan and Kazakhstan.
\"With the installation of the new production line, the PVC section will increase to about 1,000 tons per month,\" he said . \".
The PVC Department recently won the coveted eTrade award from Matrade (
Malaysia Foreign Trade Development Corporation
Contribute about 8% to the group\'s revenue.
In terms of the garbage bag business, the group, which experienced a drop in garbage bag sales in the first half of 2015, expects the sector to fully recover this year.
\"We are buying a website in Gulen to expand the garbage bag business.
\"About RM4mil will be injected into the land and facilities, which are scheduled to be put into operation next year.
\"The garbage bag business accounts for about 20% of the group\'s revenue,\" he said . \".
Ang said in its R & D center that the center will be completed in April.
\"But we have begun to work to push the group\'s products to a higher value proposition, optimize resource utilization and save costs for our customers,\" he said . \".
According to a recent study by Technavio, the global stretch and shrink film market is expected to exceed $15 by 2020.
The global stretch and shrink film market is expected to grow at a CAGR of more than 5% between 2016 and 2020, the company said.
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