Ansell (ASX:ANN) is set to invest US$32 million over the next two years to expand its Lat Krabang, Thailand manufacturing facility.
The expansion allows the Company to increase plant capacity by 30 per cent to address growing global demand for Ansell chemical protection platform products.
The investment includes a new state-of-the-art 12,000 square meter production facility as well as funding for innovative manufacturing processes and technologies. In addition, Ansell will build a new biomass boiler on the site to provide clean, renewable energy and lower energy costs.
Ansell says The expansion further positions it to meet marketplace demands while increasing capacity and developing innovative manufacturing processes.
Shares closed in Ansell (ASX:ANN) 1.05 per cent higher at $26.99 on Friday.