Gloves and condom maker Ansell Limited
(ASX:ANN) has bought a French based company called Comasec SAS for $118 million.
Comasec SAS specialises in gloves and generates sales of about $120 million with more than 1,200 employees globally.
Ansell says the acquisition ticks all the boxes from a strategic perspective and will help Ansell to strengthen its Industrial and Speciality Markets businesses.
Subject to regulatory approvals Ansell expects to finalise the sale in October with the purchase price to be funded out of the company’s cash and credit facilities.
In the first half of the 2012 financial year Ansell reported a net profit of $66.6 million.
