Notion’s unit secures US$82.2m contract

by BERNAMA / pic by TMR GRAPHIC

NOTION Vtec Bhd’s unit, Notion Venture Sdn Bhd has secured a US$82.2 million (about RM337.8 million) contract to supply disposable nitrile examination gloves to a European company, which is in the supply chain of personal protection equipment in Europe.

In a filing with Bursa Malaysia today, Notion said the supply is for two tranches of gloves to be delivered ex-works Malaysia and exported to Europe for meeting the medical needs in COVID-19 affected areas.

The contract is expected to have a positive effect on the earnings per share and net assets per share of the group for the financial results for the first quarter ending Dec 31, 2020 until the expiry of the contract.

It said this contract is a result of the PPE marketing team’s efforts following the company’s financial results announcement for the third quarter ended June 30, 2020 commentary that Notion Vtec will be looking at trading and manufacturing opportunities in disposable nitrile gloves besides the face mask business.