Austrians buy Malaysia gloves maker

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Austrian rubber and plastic products manufacturer Semperit Holding AG is acquiring Latexx Partners Bhd, a Malaysian medical glove maker, in a deal that will propel Semperit to the world’s second largest glove manufacturer behind Malaysia-based Top Glove.

Vienna-based Semperit last week has received approval from the Securities Commission Malaysia to acquire Latexx for around $200 million.

Latexx owns six manufacturing plants with an annual capacity of 9 billion gloves. It sells its gloves to 80 countries and more than 300 customers. Semperit said the acquisition would significantly strengthen its position in the global glove market and achieve its strategic objective of reaching an annual sales volume of 23 billion gloves by 2015.

“This acquisition demonstrates our commitment to our growth strategy. We will raise our global footprint by further diversifying our production in Asia and strengthening our OEM business significantly”, said Thomas Fahnemann, CEO of Semperit AG.

Together with Semperit’s joint venture partner in Thailand, Siam Sempermed Corporation, the annual production capacity will immediately be increased by approximately 70 per cent to about 20 billion examination and single use gloves, making the group also one of the largest exam glove producers in the world.

The transaction, untertaken by Semperit Investments Asia, is expected to be closed in the 4th quarter of 2012 after approval of antitrust authorities in Austria and Germany as well as the fulfillment of other conditions.

 

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Reading Time: 1 minute

Austrian rubber and plastic products manufacturer Semperit Holding AG is acquiring Latexx Partners Bhd, a Malaysian medical glove maker, in a deal that will propel Semperit to the world’s second largest glove manufacturer behind Malaysia-based Top Glove.

Reading Time: 1 minute

Austrian rubber and plastic products manufacturer Semperit Holding AG is acquiring Latexx Partners Bhd, a Malaysian medical glove maker, in a deal that will propel Semperit to the world’s second largest glove manufacturer behind Malaysia-based Top Glove.

Vienna-based Semperit last week has received approval from the Securities Commission Malaysia to acquire Latexx for around $200 million.

Latexx owns six manufacturing plants with an annual capacity of 9 billion gloves. It sells its gloves to 80 countries and more than 300 customers. Semperit said the acquisition would significantly strengthen its position in the global glove market and achieve its strategic objective of reaching an annual sales volume of 23 billion gloves by 2015.

“This acquisition demonstrates our commitment to our growth strategy. We will raise our global footprint by further diversifying our production in Asia and strengthening our OEM business significantly”, said Thomas Fahnemann, CEO of Semperit AG.

Together with Semperit’s joint venture partner in Thailand, Siam Sempermed Corporation, the annual production capacity will immediately be increased by approximately 70 per cent to about 20 billion examination and single use gloves, making the group also one of the largest exam glove producers in the world.

The transaction, untertaken by Semperit Investments Asia, is expected to be closed in the 4th quarter of 2012 after approval of antitrust authorities in Austria and Germany as well as the fulfillment of other conditions.

 

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