[11 July/Stuff]

Skellerup is investing $1 million into a liquid silicone rubber company, Sim Lim Technic, to help grow its overseas market. It has obtained a 35 percent stake in the company. Skellerup Chief Financial Officer, Graham Leaming, said the U.S. was the company’s biggest and fastest growth market. The move would harness its capability to produce materials made from liquid silicone rubber. It is an odourless product that is known for its hygienic properties. Mr Leaming added the company was also looking to extend its liquid silicone rubber range into other global markets such as Europe and Asia. Skellerup’s profits increased to $11.7 million for the six months ended December 2017, from $8.9 million in the previous year.