Notion VTec secures RM337mil nitrile glove supply contract


  • Corporate News
  • Tuesday, 22 Sep 2020

KUALA LUMPUR: Notion VTEC Bhd's unit Notion Venture Sdn Bhd will supply disposable nitrile examination gloves to a European company in the personal protection equipment space for US$82.2mil(RM337.8mil).

The gloves will be delivered over two tranches to Europe for meeting the medical needs in Covid-19 affected areas, it said in a filing with Bursa Malaysia.

"This Sales Contract is expected to have positive effect on the earnings per share and net assets per share of NVB for the financial results for the First Quarter ending 31 December 2020 until the expiry of the Sales Contract," it added.

The contract is in line with the group's earlier announcement that it would be looking at trading and manufacturing opportunities in disposable nitrile gloves besides the face mask business.

As at the lunch break, shares in Notion VTec jumped 11 sen or 11% to RM1.11 apiece on the back of 22.38 million shares exchanging hands.
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Notion VTec , nitrile gloves , PPE

   

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