Protective clothing and condom maker Ansell will pay more than $40m to buy South Korean glove maker Midas.

Ansell says the takeover will provide it with new manufacturing capabilities in specialised yarn and polyurethane technology, which will be important in accelerating growth of the company's HyFlex range.

Growth strategy

“This acquisition represents another step designed to drive Ansell forward, fulfilling our growth strategy of accelerating innovation, developing our manufacturing and sourcing capabilities and building leadership position in emerging markets,” said Ansell Chief Executive Magnus Nicolin.

Midas is a manufacturer and supplier of knitted, cut-resistant industrial gloves with expertise in polyurethane coatings and yarn wrapping. It has around 300 employees spread between plants in South Korea and Vietnam.

Midas

Over the years the company has been the authorised distributor for some of the leading brands such as North Safety, Jallatte, Impact Shoes (by Jallatte), Metal Chainex, Blosystems (Gas Detection Monitors), Workrite Uniform USA, Artcraft Blazers USA (KoolArt), Haws (Emergency Showers & Eyewash), 3M (Respiratory Protection), and MS (Midas Safety Hand Protection & PPE).

Midas offers a wide range of products like gloves, protective clothing, ear protection, respiratory protection, eye and face protection, foot protection, head protection, fall protection, emergency showers, eye wash stations, gas detection monitors, safety communication and environmental protection equipments.

Ansell

Ansell is a leader in protection solutions. The company designs, develops and manufactures a wide range of hand and arm protection solutions, clothing and condoms.

People, be it at work or during their leisure time, require the right protection solution for the right application. Ansell's vision is to create an optimal protection fro people against the risks to which they are exposed.

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