Dipped Products PLC (DPL), a major Sri Lankan rubber glove manufacturer, has proposed an amalgamation with its wholly-owned subsidiary, DPL Premier Gloves Limited, in a move designed to consolidate operations and improve financial efficiency.

The merger, disclosed to the Colombo Stock Exchange under Section 8.1 of the Listing Rules, is pending regulatory approvals, including clearance from Sri Lanka’s Board of Investment (BOI).

The company stated that the proposed amalgamation follows Section 242 (1) of the Companies Act No. 7 of 2007 and is expected to streamline business functions while strengthening DPL’s financial standing.

“The board believes this consolidation will deliver both financial and operational benefits, enhancing the group’s overall efficiency,” the filing noted.

DPL Premier Gloves, currently a fully-owned subsidiary, will integrate into the parent company’s structure upon approval. The merger aligns with broader industry trends of consolidation to optimise costs and improve competitiveness in the global rubber glove market.