STGT Ramps Up Productions to Become the World’s Biggest Rubber-Glove Producer by 2024

Sri Trang Gloves (Thailand) Public Company Limited (STGT) targeted to step up as the world’s number one rubber glove producer within 3-4 years.

 

Despite the rollout of coronavirus vaccines, STGT expected no impact on the demand for rubber gloves as many countries, including Thailand, continuously saw a resurgence of the pandemic. In this regard, the company expected to boost its production from reaching 100 billion pieces in 2032 to 2026 instead.

In accordance with the demand in the market and an increase in production capacity, STGT expected the company to see consistent growth. The company has been hitting a record high in every quarter and expecting the trends to continue onward. Both revenue and net profit in 2021 are projected to increase by 15% along with the selling price for products scheduled to be distributed next year.

 

STGT closed the morning session on Wednesday at ฿75.50/share, increased ฿1.75/share or 2.37% with a trading value of 881 million baht.