Rubberex to buy glove business for RM113mil

  • Business
  • Thursday, 04 Jul 2013

KUALA LUMPUR: Rubberex Corp (M) Bhd has proposed to acquire Alliance Rubber Products Sdn Bhd’s glove business and entire production facilities for the manufacture of nitrile and latex disposable gloves for RM113mil.

“The acquisition would be strategic and synergistic to Rubberex’s existing operation. Besides complementing its existing range of products, it is expected to contribute significantly to the future earnings of the group.

“However, this acquisition would not have a material impact on the current financial year as it is only expected to be completed by the last quarter of the year,” Rubberex said in a statement to the stock exchange.

It added that the acquisition would be part-funded by bank borrowings and internally generated funds.

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