6 Feb 2007
Red Bank, New Jersey - Ansell Ltd. finally has succeeded in its bid to buy Polish condom manufacturer Unimil SA and boost the company's share of the eastern European condom market.
The surgical rubber latex glove and condom maker will pay about $42.2 million to buy the shares of the Polish condom manufacturer. About 83 percent of Unimil's shareholders have accepted Ansell's offer, which was made on 22 Dec. with a 75-percent acceptance requirement.
The deal will boost Ansell's share of the eastern European condom market, the company said. According to published reports, it will increase the firm's share of the global retail condom market to about 13 percent.
Ansell has been looking to create a greater foothold in Germany and Poland, and Unimil will give it several strong products along with a production and packaging base in an area where the firm doesn't have a strong presence, CEO Doug Tough said when Ansell made the tender offer. Unimil reportedly has a 50-percent market share in Poland and an 8-percent share in Germany.
From Rubber & Plastics News (A Crain publication)
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