Malaysian plastic packaging allocates RM8 mn in capex to up production

Malaysian plastic packaging manufacturer, CYL Corp Bhd is boosting its production, allocating RM8 million this year in capital expenditure (CAPEX) to acquire equipment; and in order to usher into its plan of shifting focus towards automation. Last year, the company had spent RM3.6 million on the acquisition of new equipment.

According to CYL managing director Chen Yat Lee, the RM8 million is backed by the firm's "strong cash reserve and low gearing".

The company, which serves the multinationals and SMEs within the food, automotive and pharmaceutical industries, is also looking into expanding its reach in the packaging sector, according to reports.


Copyright (c) 2015 www.plasticsandrubberasia.com. All rights reserved.