Rexam strengthens position in Polish glass market

Rexam PLC, a global consumer packaging company, is pleased to announce the acquisition from Hunan NV of all of the shares in Poland Glassworks Holding BV, the holding company of Polish glassworks, Polglass (Polska) SA (“Polglass”), for a cash consideration of £10m including debt assumed and subject to working capital and other adjustments.Based on 2003 results for Polglass, the purchase price represents a multiple of 5.2 times EBITDA.

The business is expected to exceed cost of capital in year one.

Polglass primarily supplies coloured bottles to Polish brewers, with the majority of sales going to Heineken’s Polish subsidiary, Zywiec.

Rexam already has a flint glassworks in Poland located in Gostyn and the acquisition takes Rexam to the No 2 position in the Polish glass market with a 20% share.

Commenting on the announcement, Rolf Börjesson, Rexam’s Chief Executive, said: “Following our recent announcement of a glass acquisition in the Netherlands, this latest transaction shows our commitment to building our position in the north European glass industry. It opens new market opportunities for us in the beverage segment in Poland and gives us a base for further consolidation and synergies.”

600450 Rexam strengthens position in Polish glass market

See more news about:

Others also read

The glass sector has the increasingly widespread requirement of having an unlimited catalogue of parametric shapes and creating new ones in a simple way without being an expert in the field.
Glass Confusion is starting the New Year with Beginning Fused Glass group classes. The three-week course will be held Wednesdays from 10 a.m. to 1 p.m. and again from 5 p.m. to 9 p.m.
Shoaib Akhtar is going to be back on Indian TV screens. He is going to be featured in the new TV ad campaign for Asahi Glass.
Worldwide glass-substrate capacity is expected to continue to grow more than 40% each quarter through 2005, as a result of capacity expansion by existing glass-substrate suppliers and new companies joining the market, according to DisplaySearch.
Western Pennsylvania’s once-thriving glassmaking industry is dwindling, as did the domestic steel industry and for many of the same reasons: competition and cost.
Christmas got a little bluer for the local glass industry this week with the closure of yet another plant.

Add new comment