Central Industrial Corporation Berhad a wholly-owned subsidiary of Central Global Berhad had launched its new logo in conjunction with the 50th Anniversary of its establishment.
Group Managing Director Chew Hian Tat unveiled the logo at a gala event in celebration of the company’s evolution and reflection of the progress the company had made in the past 5 decades.
The group pioneered the manufacturing of industrial hi-temp masking tapes in Malaysia specifically crepe paper masking tapes and serves the automotive, painter, and industrial business sectors in both the domestic and international markets such as Australia, New Zealand, USA, China, Thailand, India, Singapore, Indonesia, Vietnam, Brunei, Hong Kong, Japan, South Korea, Taiwan, Sri Lanka and Europe.
To date, CICB’s products amount to more than 50 types of specialised industrial tapes and label stocks through its intensive research and development.
Chew said, “CICB started 50 years ago with the vision to be a leading premium solution provider to the adhesive labels and tapes industries through our high quality and innovative products. In line with this, we have increased our focus on R&D efforts to produce newer and more innovative products to keep up with the constantly evolving industry trends as well as to cater to a wider spectrum of customers and end-user requirements.”
“Our immediate focus will be to diversify into food and beverage particularly food security as well as manufacturing base industries segment to expand our business areas. We believe these two industries will be the key growth drivers for CICB in the near future,” added Chew.
CGB also has rolled out other expansion plans which include improving its production efficiency through the purchase of machinery in anticipation of increased demand. The rapidly expanding automotive industry is expected to boost the demand for masking tapes. Growing sales of vehicles across the globe are fueling the demand for masking tapes. According to the International Energy Agency, nearly 41 million cars were sold across the world in 2020. Overall, global car sales will continue to grow with the annual growth rate of 3.6% in the next five years. Aside from this, the increasing population and growing disposable income are also expected to boost the building and construction industry, which in turn boosts the masking tape market.
“At the moment, we’re finalising the purchase of machinery that will increase the manufacturing capacity of our industrial masking tapes by 2.5 times to 70 million square metre of tapes per annum from the current 20 million square metre. We had also recently received additional mixers that would increase our mixing output volume to 215 metric tonnes monthly from our current capacity of 179 metric tonnes per month. This translates to a 20% increase per month. We hope that the new mixers will be successfully installed sometime in July and we can subsequently commence the operations by August,” said Chew at CICB’s 50th Anniversary celebration.
In line with the expected increase in production, the Group aims to double or even triple its revenue per annum for its manufacturing division in 2023.
