Malaysia's Top Glove buys Adventa's unit for 345 mln USD
Friday 12th of January
KUALA LUMPUR, Jan. 12 (Xinhua) -- Top Glove, the world's largest rubber gloves manufacturer, is acquiring the surgical gloves unit of Adventa Capital for 1.37 billion ringgit (345.09 million U.S. dollars).
Top Glove told Malaysia's bourse exchange Friday, it has entered a conditional share purchase agreement with Adventa Capital to acquire the entire equity interest in Aspion, one of the world's largest surgical gloves manufacturer by capacity.
"The acquisition will provide the group with an expanded product range as well as the use of technologies and innovations of the Aspion, thereby reinforcing the group's market presence as the world's largest rubber glove manufacturer," Top Glove said.
Top Glove will also emerge as the largest surgical glove exporter in Malaysia and a major surgical glove manufacturer globally upon the completion of the deal, as its total annual production capacities for surgical and examination gloves will be increased to about 2.5 billion pieces and 54 billion pieces each year, from about 1 billion and 50.9 billion pieces now respectively.
Top Glove is principally engaged in the manufacturing, processing and distribution of gloves globally with manufacturing operations principally in Malaysia, Thailand and China.