Manufacturer predicts rubber glove prices could rise another 10%.Top Glove Top Glove Corporation Berhad (KLSE: TOPGLOV) is the world's largest rubber glove manufacturer. The company owns and operates 18 factories worldwide with locations in Malaysia, China, United States of America, Germany and Thailand. Sdn Bhd SDN BHD Sendirian Berhad (Malay equivalent to incorporated) , the world's largest rubber glove A rubber glove is a glove made out of rubber. Its primary use is in works related with chemicals where you want to protect the hands. Rubber gloves are worn during dishwashing to protect the hands from detergent and allow the use of hotter water. manufacturer, said a further hike of 10% in glove prices is inevitable in view of the rising price trends of latex concentrate and crude oils, key components in making rubber gloves rubber gloves rubber npl → gants mpl en caoutchouc . "Since January, glove prices have been revised upwards to the tune of about 15% over last year's glove prices. We feel that at the current latex price, a further price increase of 10% is inevitable," said its executive chairman Datuk Seri Lim Wee-Chai Tan Sri Dr. Lim Wee-Chai is a Malaysian entrepreneur. He founded Top Glove in 1991. His family had a background in the rubber-plantation and trading business for almost a century. . He said that with latex being the main source of raw materials, Top Glove is not immune to the impact of rising prices. Top Glove, which has more than 205 glove production lines churning out 18 billion pieces of gloves annually, is a subsidiary of Top Glove Bhd. The latter's share price closed 10 sen lower at RM7.35 on February 20. According to Top Glove's statement, the price of latex is currently at its 18-year high since 1988. As of February 15, the price was at 559.5 sen per kg, an increase of 25.7% compared with 445 sen per kg on January 3. The surge in latex prices is attributed to the fact that the three major rubber producing countries, Thailand, Indonesia and Malaysia, were hit by floods and heavy rain towards the end of 2005. |
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