Hindusthan National Buys German Glass Company

Date: 13 May 2011
Source: http://online.wsj.com

Date: 13 May 2011

MUMBAI --Hindusthan National Glass & Industries has said it will buy the assets of Germany's ailing glass-container maker Agenda Glas AG for about 50 million euros ($71 million).

Agenda Glas has a production capacity of 320 tons a day.



Hindusthan National said it signed a pact with Germany's Insolvency Administrator to buy the assets of Agenda Glas that went into bankruptcy in February.



The Indian company expects to invest 50 million euros over a one-year period to buy the German company through its unit, HNG Global GmbH.



Agenda Glas has a production capacity of 320 tons a day, the company added.

600450 Hindusthan National Buys German Glass Company glassonweb.com

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