BioNexus Gene Lab Corp Announces New Business Developments for Chemrex Subsidiary with Investment in High-End Color Paste Production

KUALA LUMPUR, Malaysia, Sept. 11, 2024 (GLOBE NEWSWIRE) — BioNexus Gene Lab Corp (Nasdaq: BGLC, the “Company”), an emerging biotech and chemical company, is pleased to announce that its subsidiary, Chemrex Corporation Sdn. Bhd.Chemrex)has invested approximately RM2 million (approx. USD$450,000) to commence production of fine color paste (non-drying type) specially designed for industrial composites customers. The new production facility will be operational by the end of September 2024, marking a significant milestone for the company as it seeks to expand its portfolio and enhance its market position globally.

The investment and launch of this new product line will enable Chemrex to capitalize on the growing demand for high-performance composite materials across multiple industries. The move is expected to deliver several key benefits that align with the company’s long-term strategy for growth and innovation.