December 19, 2022 – Semperit AG Holding has reached an agreement with the Southeast Asian glove producer Harps Global, based in Singapore with production facilities in Malaysia, on the sale of its medical business – Sempermed, a manufacturer of surgical and examination gloves. The contract was recently signed in Vienna.
The execution of the transaction is subject to the approval of the competent authorities; it is expected for the second quarter of 2023. Initially, the production of surgical gloves in Wimpassing, Austria, and their packaging in Sopron, Hungary, will be excluded from the transaction and will continue as contract manufacturing for the buyer for several years. The sales price (cash and debt free) is EUR 115 million and is subject to customary price adjustment mechanisms upon completion of the transactions.
In this context, an impairment reversal in the order of approximately EUR 30-35 million for the assets of Sempermed is expected; the exact amount will be announced with the publication of the annual results for 2022 on March 22, 2023.