KUCHING: WTK Holdings Bhd
is consolidating its plywood manufacturing facilities due to the downward pressure on the export prices of the panel products and weak demand in its key Japanese market.
The measure is to optimise the costs structures and preserve cash, said the company.
WTK group, which has plywood manufacturing plants in Kuching and Bintulu, recorded a sharp drop in plywood sales volume by 30,000 cubic m to 81,000 cubic m in 2020 from 111,000 cubic m in 2019 or down by 27%.
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