Malaysia’s Top Glove will open its first Vietnamese factory in 2020 in response to surging demand for hygienic gloves in the country. The glove giant is expected to invest some US$24.5 million into building the new factory on a large industrial plot in Vietnam. Production capacity at the factory is set for 4 billion gloves annually.
Kim Meow Lee, Top Glove’s Managing Director, mentioned that construction of the plant is underway and production would commence early next year.
Meanwhile, as rising global health standards expand the market for medical-grade gloves, company CEO and Founder Lim Wee Chai is said to be on the lookout for acquisitions amidst plans to open new plants in Malaysia and Thailand. The glove manufacturer also allocates about US$100 million toward factory expansions and automation upgrades each year.
Top Glove expects to have 872 separate product lines by December 2020, with total production capacity of 83.3 billion gloves. The company operates 40 factories across Asia and currently exports to over 190 markets globally.