• Potential investment for acquisition approximately US$ 11 mn

Dipped Products PLC, a pioneer in the protective hand-wear industry, is gearing up to acquire a Thailand-based rubber glove manufacturing facility.

The entity disclosed to the Colombo Stock Exchange (CSE) this week that its board has approved in principle the acquisition, after a due diligence study was conducted.

The potential investment for this acquisition would be approximately US$ 11 million and the acquisition will be carried out through Dipped Products (Thailand) Ltd, a subsidiary of the company. 

Dipped Products in July announced the opening of its dedicated sales and marketing office in Mumbai, India, a strategic move is part of its ongoing global expansion strategy to enhance presence in key markets.

The entity also has offices in Italy, Poland, France, the Middle East, Thailand, and Sri Lanka.