Omni Industries Limited, the country’s leading producer of plastic products, says it recently purchased a new and technologically advanced machine for $40 million that will lead to a doubling of its current production run.
Managing Director Patrick Kumst said this purchase represents a strategic investment which led to an increase in its production of drink bottle crates – its best-selling product – as well as new industrial containers.
He emphasised that this and the other upgrades being undertaken by the company will lead to a $6 million reduction in annual operating expenses due to reduced energy consumption and less down time.
He also pointed out that the company generated net profits of $107.9 million on revenues of $1.1 billion during the first six months of this year.
This performance was flat when compared with the similar period last year.
Meanwhile, total assets climbed to $1.77 billion.
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