Local manufacturer of protective industrial and medical gloves, Ansell has acquired a 50 per cent stake in Malaysian manufacturer Careplus, according to an ASX announcement on Thursday.
Careplus manufactures surgical, latex and nitrile powder-free examination gloves, with annual sales of $56 million. It is a current Ansell supplier and has a manufacturing facility in the Senawang Industrial Estate near Kuala Lumpur.
“Both Ansell and Careplus share similar values including our commitment to delivering high-quality products while maintaining high labour practice standards in our manufacturing facilities,” president of Healthcare Global Business Unit at Ansell, Darryl Nazareth, said.
“We are excited to enter a manufacturing partnership with them, investing together behind additional capacity,” Nazareth said about the $13 million deal.
“We continue to see excellent growth in our surgical business and this investment, together with additional capital investments we are making in our wholly owned manufacturing facilities, delivers the capacity we need to continue to grow and satisfy the increasing global demand for surgical gloves as well as support the rapid growth of our differentiated Industrial single use platforms.”