Penang CM Launches Iconic Worldwide’s Glove And Face Mask Factory

Iconic Worldwide Bhd has marked a new milestone in its corporate history with the grand opening of its RM200 million manufacturing facility for gloves and face masks in Batu Kawan. The launch of the highly-automated factory, which was officiated by Penang Chief Minister Chow Kon Yeow today, happened in less than a month after Iconic Worldwide secured a 510 (k) premarket notification approval from the US Food and Drug Administration (FDA) to distribute its medical-grade gloves throughout the United States. 

Six double former glove dipping lines have started running at the factory, and by March, a total of 12 double former glove dipping lines and 20 medical face mask production lines will be installed and commissioned. The factory, which is built on a 5.5-acre land, is expected to yield a minimum production capacity of 3.3 billion pieces of gloves and 220 million pieces of disposable face masks per annum.

With the Group already locking in mass orders for its gloves and face masks, predominantly from the United States, Europe, Africa and Asia, the factory’s opening puts Iconic Worldwide on the right track to become a major player in the global market within 5 years.

Iconic Worldwide Bhd managing director Dato’ Tan Kean Tet said, “The continued COVID-19 viral evolution that led to the emergence of variants such as Omicron, despite the extensive vaccinations globally, is expected to sustain the demand for gloves and face masks. While Iconic Worldwide is relatively new in the PPE manufacturing market, our international recognition – including from the US FDA – and the overwhelming enquiries from potential customers, makes us one of the leading beneficiaries of this continued demand for PPE.

A report by Arizton Advisory and Intelligence forecasts that the medical glove market size is expected to reach US$18.56 billion by 2026, up from US$9.58 billion in 2020. The global medical face mask market, according to Arizton, is expected to reach US$5.73 billion. The world continues to see an increase in demand for medical-grade gloves and face masks due to higher hygiene requirements, and as a manufacturer we see a huge opportunity for us.”

On December 14 2021, Iconic Worldwide obtained the 510(K) premarket notification approval from the US FDA. A 510(K) is a premarket submission made to FDA to demonstrate that the device to be marketed is as safe and effective. The Group has also obtained International Organization for Standardization (ISO) and European Union’s CE certifications for its nitrile gloves and medical face masks, all of which will enable the Group to export its products worldwide.

In the third and fourth quarters of the current financial year, Iconic Worldwide will ship out approximately 500 million pieces of nitrile gloves to the United States, Europe, Africa, Middle-East and South-East Asia. The sales will be partially factored into the Group’s financial year 2022 accounts, and fully realised in the financial year 2023.

“Once our 12 glove production lines and 20 face mask production lines are fully operational, we expect to generate a potential revenue and profit to the company for years to come,” Dato Tan added.

On its corporate social responsibility activity, Iconic Worldwide had also donated 100,000 pieces of face masks and 100,000 pieces of medical grade gloves to the Penang State Government to be distributed to those that were affected by the recent floods that happened in Malaysia. The donation was received by Y.B. Phee Boon Poh, Penang State EXCO Member for Welfare, Caring Society and Environment on January 8.

Source: https://www.businesstoday.com.my/2022/01/15/penang-cm-launches-iconic-worldwides-glove-and-face-mask-factory/

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