12/1/2008 — BERNAMA
Latenfield Pipe Industries Sdn Bhd plans to invest about RM40.23 million in building its first factory to manufacture pipes at the Kertih Plastic Park (KPP) in Kertih, Terengganu.
This follows an announcement in April by Hi-Essence Sdn Bhd that it would invest RM85 million to build a cable and plastic wire factory, said the East Coast Economic Region (ECER) in a statement Monday.
The KPP was built under the ECER masterplan to develop the petrochemical industry stream.
Located on a 4.8 hectare site within the plastic hub, the Latenfield factory will produce Modified Polyvinyl Chloride (MPVC) pipes that do not easily deteriorate and are of a high quality.
Latenfield managing director Chong Chow Yee said the company planned to penetrate the agricultural industry, water reticulation and sewage, mining and cabling as well as that for internal piping, for the MPVC pipes produced by the new factory.
“Latenfield is optimistic of netting RM40 million in annual sales when the new factory begins operations in two years time,” he said.
Chong also said that orders for the MPVC pipies were expected from overseas, especially from among Asean countries.
“We are looking at having in place an extensive network for pipes as an orginal equipment manufacturer,” added.
Chong who also heads EPMS Networking (K.Trg) Sdn Bhd, EPMS Home Titivation (Ktn) Sdn Bhd and EPMS Construction Sdn Bhd.
EPMS sells pipes and tanks of a high quality used extensively in the construction industry.
MPVC is a product widely accepted in developed countries such as Australia and New Zealand for application in pressure piping.
It is produced by combining a PVC resin with a polymeric switching agent, to yield a strong finish for the end product.
At the KPP, Latenfield will cooperate with Vinyl Chloride (M) Sdn Bhd, a Petronas subsidiary, who will supply the MPVC compound as well as the technical assistance.
The pioneer, integrated KPP, is expected to attract an investment of RM2 billion while creating jobs for more than 7,000.
Latenfield To Invest RM40 Million In Kertih Plastic Park Of ECER
12/1/2008 — BERNAMA