Glove and condom maker Ansell Limited (ASX:ANN) has completed its $US77 million acquisition of Brazilian company Hercules Equipamentos.
Hercules is a leading manufacturer of Personal Protective Equipment (PPE) in Brazil with annual sales of approximately $US30 million.
CEO Magnus Nicolin says the acquisition represents another strategic milestone in Ansell’s journey of expansion into attractive adjacencies.
Mr Nicolin believes Hercules will help Ansell better serve Construction, Military and first response, Mining and Oil and Gas equipment requirements, while strengthening its presence in one of the world’s major emerging markets.
Ansell generated a net profit of $133 million in the 2012 financial year.
ANN Price at posting:
$15.41 Sentiment: None Disclosure: Held
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