AE Multi to build factory for new glove entrant PNE PCB

AE Multi to build factory for new glove entrant PNE PCB

13 Jan 2021

AE Multi Holdings Bhd has bagged another project to set up the production facility for PNE PCB Bhd, a new entrant to the rubber glove industry.

The company filed its press statement to Bursa Malaysia announcing that its unit AE Multi Industries Sdn Bhd has received a letter of award from PNE Glove Sdn Bhd — a unit of PNE PCB Bhd — to design, build and deliver on a turnkey basis a glove-manufacturing factory of up to 59,000 square feet within eight months.

The factory will have the capacity to house up to 10 glove-dipping lines for the sole-purpose of manufacturing medical grade nitrile gloves, said AE Multi.

AE Multi said its recent contract awards are expected to boost its new engineering, procurement, construction and commissioning (EPCC) business segment which will help to accelerate the group’s business turnaround in 2021.

Last month, the company secured a contract from Fintec Global Bhd’s unit Fintec Glove Sdn Bhd to also build a glove manufacturing factory.

“AE Multi is moving fast to collaborate with as many new glove makers as possible. Companies are looking to build new glove manufacturing factories and to ramp up their existing production capacity, and we would like to be their preferred EPCC partner,” said AE Multi group executive director Choong Lee Aun in the statement.

Shares of AE Multi went up two sen to 12 sen, for a market capitalisation of RM64.22 million.

Source: The Edge Markets