GMG global, the hottest rubber grower, plans to pr
2022-10-02- Detail
Rubber plantation company GMG global plans to more than double its output in the next two to three years
recently, Elson ng, Global CEO and President of Singapore rubber plantation company GMG, said that the company plans to more than double its output in the next two to three years, partly through mergers and acquisitions in Southeast Asia
elson Ng said that if the company is not progressive, innovative and strong, it is also seeking to expand the area of rubber plantations in Cameroon to increase production and meet the rising demand for rubber in the market, especially from China
"we hope to install the anchor screws quickly," Ng said. "Our output in 2008 was 62800 tons, which is insignificant compared with the global total output of 10million tons," he said. "In the next two to three years, we hope to double or triple our output."
the price of rubber has soared in the past four months and recently hit the highest level in more than half a century. This also helped GMG's share price rise by more than 27% this year after jumping nearly 70% last year
the company is controlled by Sinochem Group, a Chinese state-owned company. Ng said that the company plans to invest the proceeds from the 97million POY rights issue last year into M & A activities in Southeast Asia
he said that the acquisition targets may include Indochina Peninsula processing plants and plantations
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