RED BANK, N.J.—Rubber latex glove and condom maker Ansell Ltd. has entered into a pact with Koreca Industry Co. Ltd. aimed at building its presence in South Korea.
The multiyear agreement makes Daegu, South Korea-based Koreca the firm's exclusive distributor of industrial and new verticals personal protection equipment products in the country.
In addition, Ansell said, it has an option to make equity investments in Koreca in stages during the next few years.
Ansell CEO Magnus Nicolin said that by partnering with the Koreca, the firm will significantly strengthen its presence in the Korean market. The move fits with Ansell's plan to expand globally in fast-growing markets, the company said.