Daelim, Additional Investment in Cariplex... "Increased Demand for Medical Materials Due to COVID-19"

[Asia Economy Reporter Onyu Lim] Daelim Industrial announced on the 17th that it will make additional investments in the medical material business by expanding the factory of its subsidiary Cariflex in Brazil. This is a response to the global increase in demand for medical materials due to the worldwide pandemic of the novel coronavirus infection (COVID-19).

Cariflex is a manufacturer of high value-added synthetic rubber and latex, and according to this decision, it plans to invest 50 million dollars (approximately 60 billion KRW) to expand its local factory in Paulina, Brazil. Once the construction is completed, the annual production capacity of synthetic rubber latex at this factory will double. The new factory is expected to start operations as early as the first quarter of next year. The products produced by Cariflex are mainly used as medical materials such as surgical gloves and rubber stoppers for injection devices. Cariflex holds the number one market share in the global synthetic rubber surgical glove material market.

A Daelim Industrial official said, "Through this expansion, Cariflex will further strengthen its position as a global leader in the synthetic rubber surgical glove material market."

The synthetic rubber surgical glove market, unlike natural rubber materials, does not contain allergy-causing components and has shown a high growth rate of over 8% annually. Daelim Industrial acquired Hyun Cariflex in March. The company explained that in addition to this investment, it is actively considering further expansion to meet the increasing demand.

This content was produced with the assistance of AI translation services.