SSL International has completed the sale of its Marigold industrial gloves business for £22m.
The group has sold the division to French group Comasec SAS.
The deal includes assets worth £23m, including production facilities in Malaysia and Portugal. About 1,122 staff are transferring to Comasec.
SSL will keep the Marigold consumer gloves business.
SSL International, which employs about 220 staff in Peterlee, County Durham, also makes Durex condoms and Scholl footcare products.
Chief executive Brian Buchan said: "The sale of the Marigold industrial gloves division is another step in our strategy."
SSL said the transaction would generate a pre-tax loss of up to £15m after taking account of other costs.
Sales of Marigold industrial gloves in the year to March 31 of £33m generated operating profits of £4m before interest, tax and allocation of shared group costs.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article