Polyethylene films manufacturer BP Plastics is increasing production capacity at its plant in Batu Pahat, Malaysia, in a bid to increase exports.
The company invested MYR13.5m ($3.12m) in a new cast stretch film machine from Austria amid ringgit's biggest drop, StarBiz reported.
With this investment, the company's export sales are anticipated to grow to 80% of total revenue for the financial year 2015, from 78% recorded last year, according to BP Plastics group managing director Lim Chun Yow.
"The investment is part of the group's strategy to increase production capacity and meet with the challenging demands from the export market.
"The new machine is now based at our plant in Batu Pahat," added Chun Yow.
BP Plastics currently operates two plants, which are said to have a combined capacity to manufacture 60,000 tons of stretch films and packaging bags annually.
Earlier in May, the company announced that it generated MYR283.96m ($65.8m) in revenues for the fiscal 2014 despite volatile economic conditions.
The company's revenue increased by 17.8%, when compared to same period a year before.
The growth in revenue was driven by the company's operations in the Asia Pacific region, while bolstering its presence in the domestic market.
BP Plastics, which was founded in 1990, manufactures and trades plastic products in Malaysia.
The company's industrial packaging division offers plain and printed polyethylene (PE) collation shrink films and PE lamination based films, while its stretch film division provides hand and machine stretch films under the Inifinity, Clarity, and Priority brand names.
Its products are sold to various companies in approximately 35 countries across the globe.
