Semperit AG Holding, a joint venture partner of Sempermed USA Inc., announced a takeover offer for Malaysian Latexx Partners Berhad via its wholly-owned subsidiary, Semperit Investments Asia. The objective is to acquire a majority of the company. Latexx Partners has been listed on the stock exchange in Kuala Lumpur/Malaysia since 1996 and is currently the world’s sixth largest producer of medical gloves. As one of the leading suppliers in Malaysia, Latexx Partners currently operates six highly flexible state of the art production facilities with an annual production capacity of 9 billion gloves thereof 6 billion being produced with the latest technology.
The news of the acquisition comes as the Sempermed Group commits to taking significant steps towards achieving aggressive growth targets within the context of the company’s expansion strategy. Semperit and Sempermed’s entry into the world’s most important manufacturing market for disposable gloves will enable the company to further diversify its global production activities. The planned takeover comprises a situation in which the parties perfectly complement each other strategically. The strong production base of Latexx Partners will be more effectively exploited in the future thanks to Sempermed’s well established distribution, sales and marketing network. Both companies have already been successfully cooperating in the field of nitrile gloves since the beginning of this year.
Whereas Semperit is a leading global provider of branded gloves, Latexx Partners stands out due to its flexible OEM business and its strong position in Asia and the USA, the world’s largest single use glove market. With Latexx Partners, Semperit will be able to complement our strong Sempermed brands by adding a flexible, globally leading OEM provider.
Together with Semperit’s joint venture partner in Thailand, Siam Sempermed Corporation, the annual production capacity will be increased by approximately 70% to about 20 billion examination and single use gloves, making the group one of the largest exam glove producers in the world. Working together Semperit and Latexx Partners will significantly strengthen their position among the leading glove producers in the world. The production portfolio, the product range and the customer base of both firms will increase considerably over the coming months. The transaction is expected to be closed in the 4th quarter of 2012 after approval of antitrust authorities in Austria and Germany as well as the fulfillment of other conditions to completion.