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Alcan to buy glass tubing company Interglass
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Alcan Inc. said on Monday it has agreed to buy glass tubing company Interglass to boost its pharmaceutical packaging business.
Montreal-based Alcan, the world's second largest aluminum producer, did not disclose financial details.
It said the acquisition of privately-held Interglass will expand Alcan's access to new markets in Canada through the production and sale of glass vials and ampoules.
Toronto-based Interglass, which specializes in converting glass tubing, pulled in sales of C$11 million in 2004 and has 80 employees.
Alcan said it expects to complete the integration of Interglass in the second quarter.
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May 16th, 2005
Source: Reuters |
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