Malaysian flexible packaging manufacturer and converter Daibochi Plastic and Packaging is all set to invest MYR45m ($14m) in capital expenditure over three phases to build a new manufacturing plant in Jasin, Malacca.
Daibochi managing director Thomas Lim said the move is in accordance with the company's expansion of its facility.
"The new manufacturing plant will enable us to expand our in-house film-making and metallising operations to meet current and future needs of our growing clientele," Lim said.
The plant, for which construction is expected to begin by the second quarter of 2013, will provide the group with better capacity to capture substantial market share in the growing flexible packaging sector in the region.
Daibochi will invest MYR25m ($8m) in phase one, which involves the purchase of land, construction of new facilities and the acquisition of machinery, and it is targeted for completion in 2013.
Phases two and three will require an investment of MYR20m ($6m) and will be completed over a three-year period from 2014 to 2016.
The company, which has existing manufacturing operations in Air Keroh Industrial Estate, Malacca, provides flexible packaging products to clients in the food and beverage, fast moving consumer goods, pharmaceutical and industrial sectors.
