- Bioplastics developer SECOS Group (SES) has updated the market regarding its manufacturing plant in Malaysia
- On March 18, the company announced it had leased a factory in Malaysia to accommodate the growing demand for its products
- Pleasingly, the installation of the compounding, bagging and film lines is on track with orders set to begin during the September quarter
- A new compounder has also been successfully been installed and this will support increased production to meet the growing demand for resin sales
- Once completed, SECOS’ Chinese and Malaysian facilities will have the capacity to produce an extra half a billion compostable bags per year
- Additionally, the Malaysian plant will contribute an additional $25 million per year to SECOS
- SECOS is down 4.17 per cent on the market and shares are trading at 23 cents
SECOS Group (SES) has updated the market regarding its manufacturing plant in Malaysia.
On March 18, the company announced it had leased a factory in Malaysia to accommodate the growing demand for its products.
Pleasingly, the installation of the compounding, bagging and film lines is on track with orders set to begin during the September quarter.
The plant fit-out has been completed in accordance with local and international manufacturing standards and the first shipment of manufacturing assets has arrived.
A new compounder has also been successfully been installed and this will support increased production to meet the growing demand for resin sales.
Once completed, SECOS’ Chinese and Malaysian facilities will have the capacity to produce an extra half a billion compostable bags per year.
Additionally, the Malaysian plant will contribute an additional $25 million per year to SECOS.
“We are extremely pleased with the progress of ourMalaysian plant and capacity expansion which comes at the perfect time to meet the growing sales demand for our resins and finished products globally,” CEO Ian Stacey commented.
SECOS is down 4.17 per cent on the market and shares are trading at 23 cents at 3:54 pm AEST.