During the annual meeting last November, the chairman of Irish-based glass bottle manufacturer Ardagh Plc. told shareholders that trading in the year to date had been “satisfactory” and was anticipate…
During the annual meeting last November, the chairman of Irish-based glass bottle manufacturer Ardagh Plc. told shareholders that trading in the year to date had been “satisfactory” and was anticipated to remain so for the rest of the year. While addressing the company“s annual general meeting, Mr. Peter Murray added he “wouldn“t disguise our disappointment, as a board, that we haven“t achieved an acquisition.” Mr. Murray was responding to a shareholder who had asked if the company was really interested in diversifying in the light of turnover which had been relatively static over the previous five to ten years. Speaking after the meeting, Ardagh“s group managing director, Mr. Edward Kilty, said the company was actively looking at two acquisitions. One of these is in the packaging sector while the other is an engineering company, he said. According to Mr. Kilty, Ardagh is interested in spending between 20 and 25 million for a private Irish company. In his address, Mr. Murray referred to speculation that Irish businessman Mr. Sean Quinn was examining the feasibility of building a glass manufacturing plant in Ireland. “For many years, [Ardagh] has successfully competed with the half a dozen large multinational glass companies in the Irish and UK markets.”