7 Jul 2006
Red Bank, New Jersey - Glove and condom manufacturer Ansell Ltd. has made a $34 million (€26.6 millino) tender offer for Polish condom maker Unimil SA in a move to gain a larger foothold in Germany and Poland.
Purchasing Unimil would give Ansell strong production and packaging capacity in an area where it does not presently have a significant presence, the company said.
"This acquisition is in accordance with Ansell's previously announced strategy of making bolt-on acquisitions that broaden our geographic reach," said CEO Doug Tough.
Ansell expects the acquisition to be completed by August. It will likely be a cash transaction and add to earnings in fiscal 2007, which began 1 July.
From Rubber & Plastics News (A Crain publication)
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