AT Systematization Bhd (ATS) has expressed its intention to acquire industrial glovemaker Pearl Glove (M) Sdn Bhd for an undisclosed sum.
ATS, an industrial automation systems provider listed on the ACE Market, signed a letter of intent to acquire Pearl Glove, a Kedah-based company with pioneer status or tax exemptions of up to five years.
Pearl Glove specialises in the designing and production of industrial gloves. The acquisition is subject to due diligence, the company said in a Bursa Malaysia filing yesterday.
Post-acquisition, ATS plans to inject further capital and expertise in Pearl Glove over the manufacturing of medical examination nitrile gloves to boost the latter’s capacity and product suite, the company said.
“ATS feels that by investing in a turnkey glove company and adjusting for timing to adopt new machine lines and expertise, it will be ready to supplement the demand for gloves by year-end,” the company added. – June 11, 2020
