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Dipped Products to expand in
US, Europe and Thailand -11-06-2006-
In the midst
of increased group turnover of Rs 7,109 million by 16 percent in its
financial year which ended March 31, Dipped Products Limited (DPL),
plans to expand its operations to the US and Europe, while increasing
production volumes in Thailand.
“We have found customers and markets for the large volumes we are
beginning to produce in Thailand and we are now able to build and manage
large production facilities off-shore.
“We are planning to find new markets in the US, Europe and Thailand,”
Rajan Yatawara, Chairman DPL group told The Sunday Times FT. He said
that the company’s factory in Thailand makes 500 million medical gloves
a year at present and they will be able to sell them to their
competitors in Thailand.
The company's recently released annual report recorded performances of
non-medical gloves in the hand protection sector as being good, despite
dramatic increases in rubber prices, with the group exporting a
considerable volume. Revenues from the hand protection sector which
include medical gloves from Thailand increased by 18 percent during the
year.
Mr. Yatawara said although they were unable to increase the price of the
product (rubber gloves) compared to the rise in rubber prices, which
have risen by nearly 50 percent during the year, reaching a 10 year high
for the raw material, as well as rises in other input prices, the
company did considerably well in the mentioned financial year.
Despite a 41 percent decline in profits from the previous year, DPL
recorded a profit of Rs 286 million according to their annual report,
while the company recorded a Rs 3 dividend per share in comparison to Rs
4 for the previous year.
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