Semperit acquires Malaysian glove maker

ERJ staff report (DS)

Vienna, Kuala Lumpur - Semperit has secured a 47.3% stake in Latexx Partners from its core shareholders and plans to launch a voluntary conditional cash offer for all outstanding shares and warrants of Latexx Partners. The move will will significantly improve Semperit's position among the world's leading glove producers.

Assuming a 100% takeover of LatexxPartners, the maximum transaction volume will amount to approximately MYR 603 million(EUR 152 million). The Offer is being made via Semperit Investments Asia Pte Ltd, a wholly owned subsidiary of Semperit

Listed on the Main Market of Bursa Malaysia, Latexx Partners is one of the largest medical glove producers in Malaysia and number six in the world. In 2011, Latexx Partners generated revenue of MYR 441 million (EUR 104 million) and an EBIT of MYR 66 million (EUR 16million). The company owns six manufacturing plants.

The planned acquisition represents a significant step for Semperit to achieve its strategic objective of reaching an annual sales volume of 23 billion gloves by 2015. Latexx Partners has an annual capacity of 9 billion gloves, thereof 6 billion with latest technology.

Semperit expects to increase its annual glove production capacity from the current level of 12 billion gloves by approximately 70% to about 20 billion. As a consequence, Semperit will significantly strengthen its position among the top leading glove producers.

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Press release from Semperit