Top Glove announced that its wholly-owned subsidiary had entered into a Joint Venture Agreement with Tronex and Polywel both being established in Hong Kong, to collaborate on a project for the production and distribution of HDPE Gloves. High Density Polyethylene gloves are stiffer and harder than low density Polyethylene
Under the JV, the parties will look to invest in the proposed JV company which will collaborate on a project for the production and distribution of HDPE Gloves. As part of the terms of the JV Agreement, the parties will subscribe to the shares of the
proposed JV company outtlined in the shareholding structure : 60% by TQG, 20% by Tronex and 20% by Polywel with an initial investment of RM1,440,000.00 by TQG;RM480,000.00 by Tronex; and RM480,000.00 by Polywel.
