Semperit successfully completes sale of medical business and focuses on growth in industrial core business
- Transformation into industrial rubber/elastomer specialist implemented
- Payment of additional dividend of EUR 3.00 per share on 14 September 2023
Vienna, 31 August 2023 – The Semperit Group has successfully completed the sale of its medical business to the Southeast Asian glove manufacturer HARPS GLOBAL PTE. LTD. After receiving all regulatory approvals, the closing took place as planned today, 31 August 2023, in Vienna. The purchase price for the entire medical business agreed upon signing the contract in December 2022 amounted to EUR 115 million (cash and debt free) and was subject to usual price adjustment mechanisms; the final purchase price will be determined in each case retrospectively based on the interim balance sheet as of the closing date.
“With the divestment of the medical business, we have implemented our transformation into an industrial rubber resp. elastomer specialist and will fully focus on the further development and expansion of our leading position in the core business for industrial polymer products in the future. This is where we see the greatest long-term potential for Semperit. An important growth step has already been taken with the acquisition of the Rico Group,” says Semperit CEO Karl Haider. “At the same time, we have found a responsible owner for the medical division in HARPS, which specialises in the glove business and thus expands its product portfolio and sales markets.”
With the closing, the Semperit Group has disposed of the production of examination gloves and porcelain dip mouldings for the manufacture of gloves in Malaysia, as well as the global sales and distribution units, in line with its strategy. This does not include the production of surgical gloves in Wimpassing, Austria, and their packaging in Sopron, Hungary, which will continue contract manufacturing for HARPS for several years.
Payment of additional dividend
With the sale of the medical business, all conditions precedent for the entitlement to and payment of the additional dividend in the amount of EUR 3.00 per share for the 2022 financial year have been fully met. The payment to shareholders will be made on 14 September 2023. As of 11 September 2023, the shares of Semperit AG Holding will be traded ex additional dividend. The record date is 12 September 2023.
The publicly listed Semperit AG Holding is an internationally oriented group of companies that develops and manufactures polymer products and sells them in over 100 countries worldwide with its two divisions, Industrial Applications and Engineered Applications. The Industrial Applications division focuses on industrial applications with highly efficient production and cost leadership; they include hydraulic and industrial hoses as well as profiles. The Engineered Applications division comprises escalator handrails, conveyor belts, cable car rings, other engineered elastomer products as well as the Rico Group and focuses on customised technical solutions. The traditional Austrian company was founded in 1824 and is headquartered in Vienna. At the end of 2022, the Group had 16 production sites worldwide and numerous sales offices in Europe, Asia, Australia and America. In the 2022 financial year, the Group generated sales of EUR 779.8 million and EBITDA of EUR 100.5 million in continued operations.