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Health Care

Thai medical glove maker invests $1.6bn to triple capacity by 2026

Sri Trang Gloves' net profit jumps twentythreefold on pandemic-led demand

As the coronavirus spread, demand for medical-use gloves grew among health care professionals as well as restaurant servers and other service sector employees.   © Reuters

BANGKOK -- Sri Trang Gloves Thailand posted a record net profit in 2020 as the COVID-19 pandemic led to a huge increase in demand for the company's protective gear, persuading it to invest 48 billion baht ($1.6 billion) to triple its capacity by 2026.

Strong demand for medical-use gloves translated to a nearly twentythreefold expansion in net profit, to an all-time high of 14.4 billion baht. Sri Trang Gloves' revenue increased 2.5 times to a record high of 30.4 billion baht.

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