KUALA LUMPUR: Supermax Corporation Bhd had on Friday bought a 40.4ha land in Selangor for RM78.4mil to build its integrated glove manufacturing complex, it said on Friday.
Its unit Maxwell Glove Manufacturing Bhd had purchased the land from Dragonline Resources Sdn Bhd to house its “Supermax Business Park” which will consist of the largest manufacturing facility for Maxwell and other supporting glove manufacturing industries.
Supermax managing director Datuk Seri Stanley Thai said the company would benefit from greater efficiency in terms of on-time delivery, improved and shortened turnaround process as well as shortened further delivery lead times.
Supermax said the acquisition would be funded through internally generated funds and bank borrowings and is not expected to have a material effect on the group’s gearing.
“There will be no material effect on the earnings of the group for the financial year ending Dec 31, 2013.
“It is however expected to contribute substantially to the group’s future earnings,” it said.
Maxwell manufactures nitrile medical and dental examination and surgical gloves.
It currently exports 100% of its products to more than 155 countries and Supermax’s distribution centres in the US, Europe, Brazil and Canada.