INIX signs MOA to buy stake in a glove producer
KUALA LUMPUR: INIX Technologies Holdings Bhd has entered into a memorandum of agreement (MOA) to acquire a glove producer in Beranang, Selangor.
Under the deal, INIX plans to purchase a 51% stake in L & S Gloves Sdn Bhd together with the a factory inclusive of two existing rubber glove production line.
The company told Bursa Malaysia today that the "MOA is the fastest was to venture into the glove manufacturing industry."
"This would in return give INIX an access to the lucrative glove industry which would give INIX a new stream for revenue generation," it said.