KUALA LUMPUR (Oct 18): Top Glove Corp Bhd is targeting to grow its sales volume by 10% per annum. It expects the growth to be driven by its capacity expansion, which is in the pipeline.

Speaking to reporters in an analyst briefing today, Top Glove executive chairman Tan Sri Lim Wee Chai said the group is looking to increase its market share in both developed and developing countries.

"The capacity is not a problem as we are expanding more than the market demand. But to sell it is a problem.

"We continue to see rising demand of nitrile glove from [both] developed and developing countries," he said.

According to Lim, Top Glove plans to add an additional 112 lines by 2020, which will boost its total capacity to 58.8 billion from 46.6 billion per annum currently.

The four factories to be opened in the next two years are F6 Phuket, Thailand; F30; and F31 (Phase 1 and 2).

On potential mergers and acquisitions, Lim said the group will acquire company "smartly" and "prudently" to ensure its sustainability.

"We have to spend carefully and not spend too much. So now our focus is to buy an already-built factory, then we add on machineries.

"We must act fast and ahead of our peers so we can compete more efficiently," he added.