Home News Company in the news

Aspen confirms US$210 million glove deal with Honeywell is off, looking for new buyers

The Edge Singapore
The Edge Singapore6/5/2021 9:57 AM GMT+08  • 2 min read
Aspen confirms US$210 million glove deal with Honeywell is off, looking for new buyers
The company also said two recent key executives' resignation had nothing to do with the Honeywell deal
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Aspen (Group) Holdings has confirmed that its US$210 million agreement to sell gloves to Honeywell via a joint venture has been “called off”, said president and group CEO Murly Manokharan in an SGX filing.

The company did not provide an immediate update on the status of this so-called master supply agreement as it wanted to “engage in a discussion” with Honeywell after a “cooling-off period”, said the Penang-based developer late in the evening of June 4, in response to SGX’s queries.

Since there were no further developments with Honeywell, Aspen Gloves, Aspen’s glove-making joint venture, has been “in active discussion” with other potential buyers to take up the planned production.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.