Glass producer Cristalerias de Chile SA said it has bought 49.9% of two packaging firms Reicolite SA and Cristal Plasticos Ltd. for undisclosed terms. The purchase means Cristalerias will become the f…
Glass producer Cristalerias de Chile SA said it has bought 49.9% of two packaging firms Reicolite SA and Cristal Plasticos Ltd. for undisclosed terms. The purchase means Cristalerias will become the full owner of both companies. The company declined to make public the purchase price but a statement by Cristalerias indicated that the difference between what it paid and the two companies“ combined book value was about 142 million pesos, or approximately US$ 346,000. Cristalerias will merge the operations of both companies and is building a new plant costing US$ 5 million to house the expanded operation which should be active at the end of 1996.