Semperit sells medical business to Southeast Asian glove producer HARPS
Vienna, Austria, 16 December 2022, 14:39 - Semperit AG Holding has reached an agreement with the Southeast Asian glove producer HARPS GLOBAL PTE. LTD., based in Singapore with production facilities in Malaysia, on the sale of its medical business (Sempermed; surgical and examination gloves). The contract was signed in Vienna today.
The execution of the transaction is subject to the approval of the competent authorities; it is expected for the second quarter of 2023. Initially, the production of surgical gloves in Wimpassing, Austria, and their packaging in Sopron, Hungary, will be excluded from the transaction and will continue as contract manufacturing for the buyer for several years. The sales price (cash and debt free) is EUR 115 million and is subject to customary price adjustment mechanisms upon completion of the transactions.
In this context, an impairment reversal in the order of approximately EUR 30-35 million for the assets of Sempermed is expected; the exact amount will be announced with the publication of the annual results for 2022 on 22 March 2023.
The publicly listed company Semperit AG Holding is an internationally oriented group that develops and produces highly specialised polymer products for the industrial and medical sectors, selling them in over 100 countries around the world: hydraulic and industrial hoses, conveyor belts, escalator handrails, construction profiles, cable car rings, products for railway superstructures, and examination and surgical gloves. Founded in 1824, this long-standing Austrian company has its headquarters in Vienna, Austria. The Semperit Group employs around 7,000 people worldwide, including some 3,800 in Asia and approximately 900 in Austria (Vienna and production site Wimpassing, Lower Austria). The Group has 16 manufacturing facilities worldwide and numerous sales offices in Europe, Asia, Australia, and America. In 2021, the Group generated revenue of EUR 1,182.2 million and an EBITDA of EUR 361.8 million.