PETALING JAYA: Flexidynamic Holdings Bhd
has entered into two share sale agreements (SSAs) – one with HARPS Investment Asia Pte Ltd (HIA) and another with two minority shareholders – to acquire a 100% equity interest in Nilai-based glove former manufacturer Formtech Engineering (M) Sdn Bhd.
In a statement, the rubber glove solutions provider said under the terms of the SSAs, Flexidynamic would acquire the entire issued share capital of Formtech, comprising 8.3 million shares.
The acquisition formed part of Flexidynamic’s strategic plan to enhance its upstream capabilities and expand its footprint within the glove manufacturing supply chain.
Deputy managing director Ben Sin said the acquisition marked a key milestone in the company’s long-term strategy to deepen its vertical integration within the glove manufacturing ecosystem.
