Skellerup wants to take the technical expertise of the liquid silicone rubber maker to a wider market, saying the product is ideal for sterile environments and use in high-precision medical and consumer products.
Its shares dipped 0.5% to $1.93 and are near the $2.07 record reached last month.
“We will combine the knowledge and reach of Skellerup and the technical expertise of Sim Lim to deliver high-quality solutions to existing and new original equipment maker customers,” Skellerup chief executive David Mair said.
“We have a strong focus on the United States, as our largest market.
“Through our Gulf US business we are seeing increasing opportunities for liquid silicone rubber products not only in the US but worldwide.”
Skellerup refocused its industrial unit in recent years after a slump in oil and iron ore prices weighed on earning, and now puts greater emphasis on less volatile, potable water and wastewater sectors.
The company lifted first-half profit 31% and has previously indicated annual profit will be $24.5m to $26m in the June 2018 year.
-BusinessDesk
