F&N Glass Division Invests RM130m In 2 New Furnaces

Date: 6 April 2007

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.

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.

Read the entire news on the source link below.