PETALING JAYA: Fintec Global Bhd’s subsidiary Fintec Glove Sdn Bhd has reached a deal with Robayu Corporation sp. z o.o. to enter into a memorandum of agreement for the supply of its gloves in Europe.
The agreement entails the supply of 12 40-foot container loads of medical grade nitrile examination gloves monthly starting from the third quarter of 2021.
The medical grade nitrile examination gloves will be priced in US dollars at the spot rate per box of 100 pieces/box. Two production lines will be secured for Robayu with an estimation of 39.93 million gloves produced monthly, or 479.23 million of gloves production on an annual basis.
Pursuant to the MoA, Robayu will act as the official agent and exclusive distributer to spearhead the group’s sales and distribution of medical grade nitrile examination gloves in Warsaw, Poland, and Eastern Europe.
After the formalisation is tied up between both parties, Fintec Glove will be registered under the European Union (EU) Customs database as a licensed medical grade nitrile examination glove producer and manufacturer from Malaysia.
As such, Fintec Glove will essentially provide Robayu with the medical grade nitrile examination gloves that meet the quality control and compliance standards for the EU market.
Fintec Glove has a factory located in Chemor, Perak, with 14 glove double former dipping lines production facility under construction. The first line of production of medical grade nitrile examination gloves is expected to begin in the middle of this year after the construction of the factory is completed.
