In a statement on April 5, F&N said the investments were for a second furnace for its subsidiary Sichuan Malaya Glass and a third furnace for another subsidiary Malaya Glass Products (MGP).
The division posted an operating profit of RM26.4 million on RM314 million revenue for the year ended Sept 30, 2006.
F&N also said its new US$36 million (RM124.3 million) joint-venture plant some 60km north of Bangkok would be operational in August.
It said the plant would fulfil a pivotal role to make F&N’s glass containers division the only regional glass containers manufacturer to offer multi-national customers sourcing from five plants in four East Asian countries.
F&N's core businesses are in soft drinks, dairy products and glass packaging. The group employs nearly 5,000 people in operations straddling Malaysia, Thailand, China and Vietnam.
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F&N Glass Division Invests RM130m In 2 New Furnaces
Fraser and Neave Holdings Bhd's (F&N) glass containers division has invested RM130 million to build two new furnaces at its facilities in China and Malaysia, towards becoming a leading glass packaging solutions provider.