Ansell Limited
(ASX:ANN) has acquired Midas Co, a privately owned Korean company that makes industrial gloves for about $US41 million.
Ansell says Midas has enjoyed robust growth and currently makes sales of $US 30 million per year.
The condom and glove manufacturer says Midas has cost effective and efficient plants in South Korea and Vietnam with about 300 employees.
Ansell says the company has been one of its suppliers for eight years.
The acquisition is expected to be completed in the fourth quarter of calendar 2013.
Ansell generated a net profit of $140.8 million in fiscal 2013.
