CGB aims to triple its revenue its manufacturing division in 2023
29 Jun 2022
Central Industrial Corp Bhd (CICB), a wholly-owned subsidiary of Central Global Bhd (CGB) aims to double or even triple its revenue per annum for its manufacturing division in 2023 with the purchase of machinery that will increase the manufacturing capacity of our industrial masking tapes.
CGB group managing director Chew Hian Tat said that the machinery will increase output volume to 215 tonnes monthly from our current capacity of 179 tonnes per month. He hopes the machinery will be successfully installed sometime in July and we can subsequently commence the operations by August.
He said that at the launch on June 29 of the new logo of CICB in conjunction with the 50th anniversary of its establishment.
CICB, which was founded in 1972, pioneered the manufacturing of industrial hi-temp masking tapes in Malaysia, specifically crepe paper masking tapes. Since its inception, CICB has been serving the automotive, painter and industrial business sectors in both the domestic and international markets such as Australia, New Zealand, the US, China, Thailand, India, Singapore, Indonesia, Vietnam, Brunei, Hong Kong, Japan, South Korea, Taiwan, Sri Lanka and Europe.
To date, CICB’s products amount to more than 50 types of specialised industrial tapes and label stocks under its belt as a result of its consistent research and development (R&D) and innovation efforts to extend its product portfolio for tape related trading items.
“CICB started 50 years ago with the vision to be a leading premium solution provider to the adhesive labels and tapes industries through our high quality and innovative products. In line with this, we have increased our focus on R&D efforts to produce newer and more innovative products to keep up with the constantly evolving industry trends as well as to cater to a wider spectrum of customers and end-user requirements,“ said Chew.
“Our immediate focus will be to diversify into food and beverage, particularly food security as well as manufacturing base industries segment to expand our business areas. We believe these two industries will be the key growth drivers for CICB in the near future,“ added Chew.
CGB also has rolled out other expansion plans which include improving its production efficiency through the purchase of machinery in anticipation of increased demand. The rapidly expanding automotive industry is expected to boost the demand for masking tapes.
“At the moment, we’re finalising the purchase of machinery that will increase the manufacturing capacity of our industrial masking tapes by two and a half times to 70 million square metres (sq m) of tapes per annum from the current 20 million sq m. We had also recently received additional mixers that would increase our mixing output volume to 215 tonnes monthly from our current capacity of 179 tonnes per month. This translates to a 20% increase per month. We hope that the new mixers will be successfully installed sometime in July and we can subsequently commence the operations by August,“ said Chew.
In line with the expected increase in production, the group aims to double or even triple its revenue per annum for its manufacturing division in 2023.