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Flexidynamic signs MoU to acquire Formtech, established in 2011, produces 250,000 glove formers monthly and serves over 50 customers globally. Its strong reputation makes it a trusted supplier to top glove manufacturers.
The US imposing tariffs in return is beneficial for Malaysian glove manufacturers as China’s gloves exported to the U.S. are now subject to a total levy of 104% (50% + 20% + 34%)
Rubber glove solutions provider Flexidynamic Holdings Bhd (KL:FLEXI) has proposed to expand its business in the industry by acquiring a manufacturer of glove formers.
In a bourse filing on Thursday, the group said it has entered into a memorandum of understanding (MOU) with HARPS Investment Asia Pte Ltd (HIA) for the acquisition of Formtech Engineering (M) Sdn Bhd.
It's a valuable acquisition, should just sign MOA straight away. For the record, Formtech has a monthly production capacity of 250,000 glove forming machines, serving over 50 customers in 15 countries