Lakeland Industries buys Indian glove maker, RFB Latex

Ronkonkoma, New York -- Lakeland Industries, Inc. has announced that it has agreed to acquire the assets and operations of RFB Latex Private Limited's Industrial Glove Business (RFB) of New Delhi, India for a purchase price of $2.75 million, subject to certain adjustments after an audit.

RFB makes supported and unsupported radiation protection gloves and flock lined gloves coated made from various elastomers including latex, nitrile and butyl for the worldwide industrial hand safety markets. The deal is due to go through after a one-year interval.

According to Lakeland, RFB specialises in technologically advanced gloves usually used to protect against hazardous chemicals (Solvex Gloves) to suit end user safety needs, coupled with quality, service, price and delivery. The market for these types of gloves worldwide is approximately 1000 million dollars.

Lakeland wil add the new range to its existing Kevlar and Spectra String Knit Lines and says this will complete Lakeland's Glove line in higher technology/higher margin gloves used for protection from cuts, heat and chemicals in the industrial work place.