KUALA LUMPUR, Malaysia, Sept. 11, 2024 (GLOBE NEWSWIRE) -- BioNexus Gene Lab Corp (NASDAQ:BGLC, the "Company")), an emerging Biotech & Chemicals company, is pleased to announce that its subsidiary, Chemrex Corporation Sdn. Bhd. (Chemrex), has invested approximately RM 2 million (approx. USD $450,000) to begin the production of fine-quality color paste (non-drying type) specifically designed for composite industrial customers. The new production facility will commence operations in late September 2024, marking a significant milestone for the Company as it seeks to expand its portfolio and enhance its market presence globally.
The investment and the launch of this new product line will allow Chemrex to capitalize on the growing demand for high-quality composite materials in various industries. The move is set to bring several key advantages that align with the Company's long-term strategy for growth and innovation.
Key Benefits of the New Business:
Increased Profit Margins:The new color paste production will significantly improve Chemrex's profitability. By controlling production internally, Chemrex ...
