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June 03, 2013 02:00 AM

Semperit gains larger share of Latexx Partners

Rubber & Plastics News Report
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    VIENNA—Semperit A.G. has increased its interest in Malaysian glove maker Latexx Partners Bhd. to more than 95 percent on a diluted share basis in the last few months.

    The Austrian company said it is delisting Latexx Partners' stock on the Bursa Malaysia stock exchange and issuing an exit offer for the firm's remaining outstanding shares and warrants.

    Trading of Latexx Partners' shares was suspended on the stock exchange on May 23, and its stock exchange listing will end June 5. Remaining shareholders have another three months to sell their shares and warrants to Semperit under conditions of the exit offer, Semperit said.

    Semperit bought a 57-percent controlling interest in Latexx Partners in October 2012, intent on gaining a strong base in the Malaysian rubber latex hand protection industry and the U.S. glove market.

    Latexx Partners is one of the largest glove manufacturers in Malaysia.

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