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Business deals

Top Glove to invest in Vietnam following Aspion acquisition

Malaysian manufacturer seeking growth in mid- and high-end glove markets

Top Glove wants to acquire two more of its rivals in 2018 after its recent $345 million takeover of Aspion. (Courtesy of Top Glove)

KUALA LUMPUR -- Top Glove, the world's largest maker of rubber gloves, plans to expand into Vietnam this year to capitalize on the country's competitive edge as global demand continues to climb.

The Malaysian manufacturer also announced on Friday the signing of a share purchase agreement with Singapore's Adventa Capital to take over smaller producer Aspion entirely. The 1.37 billion ringgit ($345 million) purchase will make Top Glove the world's largest surgical glove maker with a third of the global market.

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