Ansell (ASX:ANN) buy stake in Malaysian glove-maker

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by Rachael Jones

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Last Updated: 24/02/2020 3:27 PM

Protection solutions company Ansell (ASX:ANN) has bought a 50 per cent stake in a Malaysian gloves maker for $13.3 million.

Careplus Malaysian is a manufacturer of surgical and latex and nitrile powder-free examination gloves, with annual sales of $56.4 million.

They are a current supplier of Ansell and the two businesses will enter a manufacturing partnership as part of the deal.

Ansell expects the acquisition to be EPS neutral in F20 and slightly EPS accretive thereafter. Closing is expected to occur in March 2020.

Shares in Ansell (ASX:ANN) are trading 0.59 per cent higher at $32.64.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.