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Gerresheimer Expands Pharma Glass Ops
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German packaging firm Gerresheimer has bought up the glass manufacturing operations of an American packaging company in its second significant acquisition in three months.
Gerresheimer announced this week that its US subsidiary, Kimble Glass, has acquired the pharma-glass operations of US manufacturer Comar for an undisclosed sum.
Through the transaction, Gerresheimer gain the real estate, manufacturing equipment, plant operations and management personnel associated with Comar's glass manufacturing operations.
Comar uses tubular glass to produce pharmaceutical vials and system components, thus complementing and adding to Gerresheimer's own tubular glass division. Gerresheimer's existing tubular glass manufacturing focuses on vials, ampoules and cartridges, with particular emphasis on highly-developed syringe systems for injectable drug delivery.
In 2005, 37 per cent of Gerresheimer's business was through the tubular glass division, and during the first three-quarters of 2006 the business unit has generated net sales of €180.1m.
According to the company, the sale of the glass manufacturing plant of French subsidiary Verretubex in June 2006 had an impact on third quarter sales, but full year results due out today will show how much of an effect the sale will have had over the rest of the year.
Comar sales in the pharma glass sector totalled around $24m (€18m) in 2006, which will make a healthy contribution to Gerresheimer's coffers, and with the deal anticipated to be complete by the end of the month and full transition of the glass operations to Gerresheimer to take place within six months, the company can begin to take advantage of its newest assets fairly swiftly.
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March 31st, 2007
Source: Labtechnologist.com |
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