Nampak invests R938m in glass packaging

Date: 24 November 2011
Nampak has acquired the other 50% share in its glass packaging business from Wiegand-Glas for R938 million.

Image: Nampak

Andrew Marshall, CEO of Nampak said "this acquisition is part of our strategy of investing in our core businesses where we believe we have competitive advantages.

"As a result, Nampak is looking to grow its glass operations in South Africa and the rest of Africa. This will be more easily achieved by us owning 100% of the glass business.

"Although they will no longer be shareholders in the business we are pleased that Wiegand-Glas have agreed to remain as our technical service provider."

The transaction is subject to the approval of the Competition Authorities.

600450 Nampak invests R938m in glass packaging

See more news about:

Others also read

Proprietary laminate windows collect, store energy; convert it to electricityRIVIERA BEACH, FL – An innovative new patented technology transforms office building windows into "solar farms" and allows these structures to reuse collected energy and become self-sufficient in the event of a power outage.
DALLAS, Texas, December 22, 2011 /PRNewswire/ --ReportsnReports adds new market research report 'Solar Photovoltaic (PV) Power - Global Market Size, Installation Prices, Module Market Shares, Market Segmentation, Regulations and Key Country Analysis to 2020' to its store.
The University of Minnesota's historic Folwell Hall completed three years of extensive renovation, just time for the 2011 academic year.
Glassman as one of the largest glass processing machine manufactures in the world presented ZAK Glass Technology Exhibition during 8-11 December 2011, in Mumbai, India.
The development of ESG’s privacy glass product, ESG Polyvision™, has quite literally reached new heights.
We sincerely thank all our members, friends and visitors for being part of GlassOnWeb and its success during 2011.

Add new comment