Ansell Limited (ASX:ANN), today announced that the settlement of its purchase of Comasec SAS and its subsidiaries has been completed.
This EUR 101.5 million acquisition (approximately A$126m) was previously announced on 7 August, 2012.
Comasec is a privately owned French group with sales of around EUR100m, manufacturing operations in Portugal and Malaysia and over 1200 employees globally. It is a leading player in the European Personal Protective Equipment (PPE) Glove Market, has a presence in North America and specialises in gloves for chemical protection, food handling, cut protection, mechanical protection, dry box and thermal protection. Major brands are Comasec, Marigold, and Marigold Industrial. Comasec’s gloves complement and extend Ansell’s Industrial and Specialty Markets product ranges and it brings new manufacturing capabilities as well.
This cash-free, debt-free acquisition was funded out of Ansell’s available cash and credit facilities. After expensing transaction and integration costs, it is expected to be slightly EPS accretive in the nine remaining months of F’13 and strongly accretive thereafter.
FOR FURTHER INFORMATION
Investors and Analysts
David Graham, I.R.
Tel: (613) 9270 7215 / (61) 401 140 749
Rustom Jilla, CFO
Tel: (1732) 345 5359
Helen McCombie, Citadel
Tel: (61) 411 756 248
Peter Brookes, Citadel
Tel: (61) 407 911 389