Malaysian Glove Maker WRP to Shut Down Over Iran War Shocks

Malaysian rubber glove maker WRP Asia Pacific Sdn. will begin winding down its business operations this month, citing “severe disruptions across global energy and petrochemical supply chains” caused by the Middle East conflict.

WRP has suffered from “significant” increases in costs for petrochemical-derived raw materials and chemicals while facing uncertainty about procurement timelines and suppliers that increasingly require advance payments, the company said in a March 31 letter addressed to customers, which was reviewed by Bloomberg News.