MALAYSIAN glove maker Rubberex Corporation has bought another glove producing firm based in Penang for RM113 million.
Its sub-subsidiary, Rubberex Alliance Sdn Bhd acquired the glove business and the entire nitrile and latex disposable glove production facilities of Alliance Rubber Products.
The acquisition, which Rubberex anticipates to contribute to the earnings of the company in the near term is said to be completed by the last quarter of the year.