The construction of the new facility, the company said, was necessary to keep up with the growing current operations and help expand the current portfolio into specialty products.
“The completion of the proposed state-of-the-art plant will cater for the future expansion plans of CCMD, including expanding its production capacity by 40% to 50%,” the company said in a filing with Bursa Malaysia.
The company said RM103.7mil would be allocated for the new plant – including machinery – and RM37.1mil for the new warehouse with roof-top car park.
The project will be partially funded by proceeds from the RM113mil rights issue exercise completed last year, with the remaining through a combination of internally generated funds and borrowing.
The construction of the proposed plant and warehouse with roof-top car park is expected to start in the third quarter of this year, and barring any unforeseen circumstances, is due for completion by the end of 2018.
“These buildings are expected to complement each other and will serve as CCMD’s central point for its designated activities,” it said.
CCMDBIO (7148) - CCM Duopharma to invest RM141mil in new facilities
http://www.thestar.com.my/business/business-news/2016/03/22/ccm-duopharma-invests-rm141mil-in-new-facilities/
