PETALING JAYA: Guan Chong Bhd will invest RM50mil to expand the capacity of its German plant Schokinag Holding GmbH over the next two years.
In a statement yesterday, the group said the expansion will help it ride the recovery in Europe as borders reopen. The growing revenue contribution from Schokinag also necessitates the expansion.
Schokinag recorded a revenue surge of 21% to RM689.2mil in the nine months ended Sept 30, 2021, from RM570.0mil in the previous corresponding period.
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