Article: AKN ventures into rubber glove manufacturing

Azlan Abu Bakar
New Straits Times
04-11-2009
AKN ventures into rubber glove manufacturing
Byline: Azlan Abu Bakar
Edition: Main/Lifestyle
Section: Business Times
Type: Company

PENANG-BASED semiconductor firm AKN Technology Bhd is diversifying into the rubber glove-making business to reduce its dependence on the crisis-hit electronics industry.

The firm told Bursa Malaysia it has signed a deal to buy all the shares of Nobel Gloves Sdn Bhd (NGSB) for RM100,000.
It will then invest RM9.9 million in the glove maker by subscribing for the same number of shares.

It will also provide a cash advance of RM7 million to help NGSB begin its operations as a manufacturer of powder free synthetic gloves.

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