Comasec buys SSL glove unit

CHESHIRE, England (Nov. 4)—SSL International P.L.C. has sold its Marigold industrial glove business and two production facilities to French protective glove manufacturer Comasec S.A. for about $37 million. The deal will significantly expand Comasec's personal protective goods range, representatives from both companies said. The manufacturing sites are located in Malaysia and Portugal. About 1,122 employees will transfer to Comasec from SSL. The majority of the purchase price will be paid in cash, an SSL spokesman said, adding that cash proceeds from the transaction will be used to reduce the firm's loans. SSL made the sale to focus on its health care brands, including Durex condoms and Scholl foot-care products. SSL is retaining its Marigold consumer glove business and has entered into an agreement under which Comasec will manufacture Marigold household gloves for the Cheshire-based glove and condom maker.