MALAYSIA: Top Glove eyes 30% global market share

Top Glove Corp Bhd, the world's largest rubber glove manufacturer, hopes to grow its global market share to 30% by next year from 23% now.

It would not be easy, said chairman Tan Sri Lim Wee Chai.

The company needed to increase its production capacity either through organic growth or by way of acquisition to capture that amount of global market share, he told reporters at the Invest Malaysia 2011 conference in Kuala Lumpur.

He said there was also a need to strengthen the marketing division by getting more people and to expand the company's presence.

Top Glove has over 900 customers in more than 180 countries.

It manufactures 13 major types of rubber glove products which are variations of latex powdered, latex powder free, vinyl, nitrile and surgical gloves.

Asked on its acquisition plan, Lim said: "Of course we have been talking to some parties but the pricing is still high.” He said the company was also in the process of adding four new plants costing about RM160 million.

The plants would have 80 production lines with a production capacity of 7.5 billion pieces per annum, he said. Top Glove has 20 factories, of which 14 are in Malaysia, four in Thailand and two in China.

Once completed, it would have 459 production lines with a total production capacity of 41.25 billion pieces per annum.(Syed Rashid Ali, Karachi, Pakistan)