UG Healthcare

[greengiraffe]

Welcome back MW,

It has been a long time coming... Thanks for your detailed analysis.

Frankly, I m getting old and am not into all these detail analysis unless I have substantial interests in the stocks that I m interested.

Thank you again.

GG

Ansell is a key competitor defined for glove used in electronic sector, by Riverstone. One other key competitor is Kimberly-Clark. I am not sure the Ansell position in healthcare sector.

UG prospectus has provided a list of key competitors, but all from M'sia, and Ansell isn't one of them.

Do you happen to know the annual sale volume of Ansell for glove?

Ansell doesn't compete directly with the Malaysian glove makers. Most of its portfolio consists of reusable gloves in the chemical, construction and automotive industries with brands such as Hyflex, Alpha-Tec and Touch N Tuff. They recently announced a re-organization where their industrial division has been split into "Single-Use" and "Industrial". Even then, the single use gloves they own are mostly from their acquisition of BSSI in USA.

If you look at their medical division, they do examination gloves (which is the nitrile type), but their strength lies in surgical gloves which cannot easily be produced by the OEMs in Malaysia. Surgical gloves command a higher ASP and margin than examination gloves.

Ansell does not disclose sales volumes - you can check their latest AR 2014 (their year-end is in June 30). The best you can find from their presentation slides are the sale of gloves by brand and type (e.g. chemical-resistant).

http://www.ansell.com/en/About/Investor-...ments.aspx