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Gerresheimer and Danone form joint venture

28 August 1998: According to a recent press report, glassmaker Gerresheimer Glas AG recently said it has agreed to merge its glass container activities with France“s Groupe Danone.
Gerresheimer said…

28 August 1998: According to a recent press report, glassmaker Gerresheimer Glas AG recently said it has agreed to merge its glass container activities with France“s Groupe Danone. Gerresheimer said Danone intended to take a majority stake in the venture which will be floated on the stock market. The firms plan to complete the transaction, which is subject to approval from supervisory boards, Gerresheimer shareholders and cartel authorities, by the end of the year, the report said. They also intend to find an investor to take a “significant minority stake” in the joint venture, Gerresheimer said. The new company will have sales of DM 2.5 billion and will have strong market positions in France, Germany, the Benelux countries and Spain. Meanwhile, French dairy products concern Danone is distancing itself from glassmaker Vereenigde Glasfabrieken in Schiedam by agreeing on the alliance of its glass activities with the German rival (Gerresheimer). Reports say Danone no longer considers the Dutch firm as part of its core business. Vereenigde Glasfabrieken, which became 100%-owned by Danone in 1995 and employs 1,750, has operations in Schiedam, Leerdam and Maastricht.

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