SOURCE: Magla International, LLC

February 28, 2011 09:26 ET

IncreMental Advantage Initiates Coverage on Magla International LLC With a Long-Term Buy Rating

PRINCETON, NJ--(Marketwire - February 28, 2011) - IncreMental Advantage announced that it initiated coverage on Magla International LLC (OTCBB: ADSO) on February 22 with a Long-Term Buy Rating. This 27-page report provides detailed coverage of many aspects of Magla's business including:

  • Its dominance in the work glove segment of the retail industry and its product lines;
  • Its relationships with the nation's largest retail chains;
  • Its relationships with manufacturers and suppliers throughout the world;
  • Its licensing relationships with some of the largest brands in the world;
  • Its history of innovation and a preview into potential products that may be introduced into the market in the coming years;
  • In-depth analysis of Magla's intellectual property position including detailed schedules of Magla's Patent and Trademark portfolios;
  • An overview of Magla's management team;
  • Analysis into recent financial performance;
  • Analysis of the likely impact of cost-reduction measures and capital raises on future financial performance; and,
  • Comparative valuation analysis with 16 peer companies.

David Wanetick, Managing Director of IncreMental Advantage, and author of the report, said, "It was a pleasure spending quite a bit of time with Magla's management team and touring some of its facilities during our research. CEO Jordan Glatt is to be saluted for implementing multiple measures that greatly increase Magla's chances of becoming an exciting growth story. With the recent capital raises that the Company completed, Magla has the fuel to pursue its robust growth opportunities."

About Magla International LLC:

Magla International is the leader in the household glove market distributing 30 million household gloves and more than 200 million disposable gloves annually. The Company has a product in almost every major retailer in the U.S. reaching a base of 100,000 stores nationwide.

For over 50 years, Magla has manufactured laundry products with ironing board covers dominating the category with an 80% market share. In the early 1970s the Company first entered the household glove business and in 1993 purchased Ansell's United States distribution.

In 1995 Magla restructured the Company, selling off the laundry business, to focus primarily on household and work gloves. As part of the restructuring, Magla moved a main part of its operation to Statesville, NC, where it maintains a 175,000 square foot warehouse. The company moved its corporate headquarters from Chatham to Morristown, NJ.

In 1998, Magla entered into a licensing deal with The Stanley Works of New Britain, CT to market the entire line of work and garden gloves under the Stanley brand name. In January of 2000 Magla entered into a licensing deal with consumer products giant Procter & Gamble to offer a complete line of household reusable and disposable gloves under the Mr. Clean brand name. 

Magla is focusing on leveraging the relationships it has with Stanley Black & Decker, Inc. and The Procter & Gamble Company by selecting new products to brand. One of the Company's growth initiatives is its current launch of a line of Dickies work gloves.

Currently, Magla offers more than 40 different styles and designs of reusable and disposable household gloves and over 140 different work gloves. With reusable cloth wipes marketed under the Mr. Clean and Magla brands and related cleaning products the Company has staked a claim to being the country's leading supplier of branded and private label hand protection to consumers.

About IncreMental Advantage: 

IncreMental Advantage is a boutique research and valuation firm with an expertise in valuing emerging technologies, intangible assets and underfollowed companies. Our research is highly regarded among institutional investors and senior executives all over the world. Visit IncreMental Advantage online at http://www.incrementaladvantage.com.

You can view the report on line at:
http://www.incrementaladvantage.com/catalog/product_info.php?cPath=1_54&products_id=166

Contact Information

  • Contact Information - IncreMental Advantage:
    Scott Pearlman
    609-919-1895 ext. 111
    Email Contact