11 June 1998: German glassmaker Gerresheimer Glas AG of Dusseldorf is reportedly planning to divest itself of its standard container glass division this year, according to chairman Klaus Peter Rambow….
11 June 1998: German glassmaker Gerresheimer Glas AG of Dusseldorf is reportedly planning to divest itself of its standard container glass division this year, according to chairman Klaus Peter Rambow. Talks are currently being held with domestic and foreign investors. The division comprises four plants in Germany employing some 2,000 people. Gerresheimer has decided to divest itself of this division as its reduced turnover in 1997 meant a 38% drop in ordinary operating profits. Revenue from the sale will be used to concentrate on its pharmaceuticals, cosmetics and speciality container glass divisions. Rambow is not excluding the possibility of further acquisitions as part of Gerresheimer“s restructuring. Viag AG of Munich has a 51% stake in Gerresheimer Glas. Some 50% of the remaining share is held by Anglo-Saxon funds, including some pension funds.