RED BANK, N.J. (July 6) — Glove and condom manufacturer Ansell Ltd. has made a $34 million tender offer for Polish condom maker Unimil S.A. in a move to gain a larger foothold in Germany and Poland.
Purchasing Unimil would give Ansell strong production and packaging capacity in an area where it does not presently have a significant presence, the company said.
"This acquisition is in accordance with Ansell´s previously announced strategy of making bolt-on acquisitions that broadens our geographic reach," said CEO Doug Tough.
Ansell expects the acquisition to be completed by August. It will likely be a cash transaction and add to earnings in fiscal 2007, which began July 1.