DGAP-News: Biomax Rubber Industries Ltd. / Key word(s): Market Report/Expansion Bio13.04.2015 Malaysian Rubber Glove Manufacturers Association (MARGMA) expects Malaysian glove companies to achieve a global market share of 65% in all glove sectors by 2020.max Rubber Industries Ltd.: 13.04.2015 / 21:29 --------------------------------------------------------------------- Kuala Lumpur/Bermuda 13.04.2015 Malaysian Rubber Glove Manufacturers Association (MARGMA) expects Malaysian glove companies to achieve a global market share of 65% in all glove sectors by 2020. "Global Rubber Gloves Market Report: 2014 Edition"found that Malaysia holds the prestige of retaining its position as the world's largest supplier of rubber gloves, commanding over two-third of global market share.The US and Europe are the largest importers, especially of nitrile gloves which is where Biomax specialises in. Biomax Rubber is very excited to announce that it fits the overall specification of nitrile gloves in demand by larger scale orders which we have been seeing already from existing clients. We continue to work on increasing the awareness of our products as we already have gained a lot of trust from current clients regarding product quality, production time and delivery. Biomax Malaysia employs seventy eight (78) full time employees at its factory in Malaysia, and produces approximately 384 million pieces per annum of ME gloves per annum and the factory has four (4) operating production lines. The production lines produce Latex ME gloves â powdered (smooth, white) in all glove sizes.The production capacity is 384 million pieces per annum of ME gloves per annum with 4 production lines exporting to 20 countries. Current full production capacity is 384 Million gloves per year. The Company is looking to expand production to cope with current demand exceeding 500 Million Gloves per year which in turn would translate into 10 Million USD revenue. A 100% increase in revenue based on 2014 figures which was 5 Million USD revenue. Over the past years, there has been a notable rise in the demand of gloves whenever there is an outbreak of flu or viral diseases. During and after such outbreaks, there is a sudden change in the demand for rubber gloves due to increased hygiene concerns. Not just China but South American countries have been implementing programs to make more aware of hygiene and bacterial infection prevention. The key factors driving growth of the global rubber gloves industry include rising number of increasing healthcare expenditure, ageing population, accelerating awareness of hygiene and healthcare reforms with more stringent regulations, improvement in global economic growth, and increasing potential of emerging markets. Currently, Malaysia is the one supplier of rubber gloves in 120 countries out of the 196 that it exports to and has kept a lead over rivals in Thailand and Indonesia, due to advances in technology and relatively cheap production costs. Margma, the (Malaysian Rubber Glove Manufacturers Association) sees global demand for rubber gloves to continue to grow at a rate of 8% to 10% for 2015, amid the weakening of the ringgit against the USD. A strong increase in demand is noted from Asia, particularly India, Pakistan and China as healthcare awareness becomes more crucial. The United States and Europe are still a strong growth partner. Margma President Lim Kwee Shyan mentioned in a roundtable discussion that he hopes Malaysian glovemakers to increase market share to 65% by 2020. Biomax is perfectly positioned to play an active part within its peer group of rubber glove manufacturers. Its orderbook remains strong despite intense competition. The glove makers are aggressively expanding their nitrile production capacity. The demand is strong and we expect it could continue to outperform latex glove in the market share. Providentially, latex and nitrile prices both have been stable. Prices of latex and nitrile are not expected to increase due to maturing plantations in Cambodia and South Vietnam, and expansion capacity by nitrile producers. About Rubber Industries Ltd. Established in 2010, and is now a well organized and a profit making company with main business in medical/examination ("ME") glove manufacturing in Malaysia. BioMax Rubber Industries is well recognised in the manufacturing and trading of premium non-sterile latex ME gloves, pre-powdered, polymer coated and trades chlorinated powder free gloves for the healthcare industry. Today, BioMax Rubber Industries' products are exported to more than 20 countries worldwide to countries such as United State of America, United Kingdom, Japan, Vietnam, Europe, China, Middle East, India and Australia with its strong reputation of good product quality, timely delivery and excellent customer service. There are multinational companies in developed countries, who have made BioMax Rubber Industries as their preferred OEM manufacturer. Biomax Malaysia employs seventy eight (78) full time employees at its factory in Malaysia, and produces approximately 384 million pieces per annum of ME gloves per annum and the factory has four (4) operating production lines. The production lines produce Latex ME gloves â powdered (smooth, white) in all glove sizes. Contact Investor- and Public Relations: Biomax Rubber Industries Opern Turm 60306 Frankfurt Phone: +49 69 1200 66938 Email: info@biomax-invest.com --------------------------------------------------------------------- 13.04.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 343731 13.04.2015
DGAP-News: Bio13.04.2015 Malaysian Rubber Glove
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