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Comar, Inc. Announces Plan to Sell Its Glass Manufacturing Operation to Gerresheimer's Kimble Glass, Inc. Operation
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Comar, Inc. announced that it will sell its glass manufacturing operation, with the exception of its "Glass Pipette Manufacturing" business, to Gerresheimer's Kimble Glass, Inc. operation. Kimble Glass, Inc. is a manufacturer and marketer of tubular glass products. Today's announcement is pursuant to an Asset Purchase Agreement signed March 1, 2007, the terms of which were not disclosed. The closing of the transaction is anticipated by end of March, 2007.
Included in the transaction are the real estate, manufacturing equipment, plant operations and management personnel. The glass pipette manufacturing equipment and associated operating personnel will be relocated to the Comar plastic operations in Buena, New Jersey. Assembly of the pipettes into glass dropper assemblies will continue to be performed in the Buena facility. The full transition of the glass operation from Comar to Kimble is expected to take place within 6 months.
In a statement released by Henry Tamagni, Jr., President and CEO of Comar, "We appreciate all of the wonderful relationships we have developed over the years in the glass industry and, the loyalty and devotion of our workforce. We are confident that Kimble will maintain the same attention to quality and responsiveness that has been a Comar trademark, and that the same talented and professional workforce will continue to serve its customers as they have for so many years."
Read the entire news on the source link below.
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March 30th, 2007
Source: Drugnewswire.com |
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