Pilkington's Swiss Sell-off

Date: 29 July 2009
Source: Manchester Evening News

Date: 29 July 2009

GLASSMAKER Pilkington has sold its Swiss processing operations to a German company in a £20m-plus deal. Flachglas Wernberg, in which Pilkington's Japanese parent NSG Group holds a 49 per cent stake, has bought three businesses employing 255 staff.

They will all keep their jobs.
 
The operations, which process building glass for glaziers and others, will continue to be led by the existing management team. They were deemed "non-core" by NSG.
 
Jonathan Boyers, of accountancy firm KPMG, led a Manchester corporate finance team who advised St Helens-based Pilkington on the deal.
 
A spokesman for Pilkington said: "The service to the NSG Group's existing customers in Switzerland will be unaffected by the sale."
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