Kuala Lumpur – Fintec Glove has appointed engineering group Pasukhas to construct a 3 billion pieces/year plant for the manufacture of nitrile medical gloves.
Equipped with 14 dipping lines, the RM60-million (€12.3 million) facility is to supply European markets under a deal with distributor Robayu Corp., parent group Fintech Global said 27 Jan.
Construction work was expected to start on 1 Feb, with production scheduled to begin just six months later at the plant, located on a 4.6-acre area of land at Ipon, Perak.
Fintec Glove’s manufacturing capacity will reach 32,000 pieces per hour and is projected to exceed 3.3 billion pieces per annum, according to the Malaysian investment group.
Distributor Robayu, it added, is to supply 42 million pieces a month of medical-grade examination gloves into Poland and eastern Europe, starting in the third quarter of 2021.
Given current strong demand, Fintec Glove expects to recuperate capital costs within three years, assuming average selling price of each piece of glove remains high.
“As the pandemic has caused the demand for gloves to spike resulting in a supply shortage, medical gloves are now selling at $0.12 cents per piece,” the company reported.