Total confirms plan to sell Hutchinson's glove, condom unit

ERJ staff report (DS)

Paris -- Total SA intends to sell the glove and condom unit of its rubber processing company, Hutchinson. In a presentation of the company's third quarter results, chief executive Christophe de Margerie said he intends to sell Total's glove and condom-making unit.

Hutchinson operates the Mapa, Mapa Professional and other brands in the healthcare sector. No further details were released. 

Later, in a conference call, de Margerie said that while Total still has some non-core assets, he did not expect any significant sales in the short term. He said if the opportunity for a cost-effective sale arose in the short term, then Total would think about it, but Total has a great deal of capital flexibility at present, and does not need to sell any of its businesses. 

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Press release from Total SA