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Gerresheimer: plan to double turnover

Germany“s Gerresheimer Glas, which makes special packaging for the pharmaceutical industry, said it is targeting significant growth over the next few years. The company says that it is interested in …

Germany“s Gerresheimer Glas, which makes special packaging for the pharmaceutical industry, said it is targeting significant growth over the next few years. The company says that it is interested in acquiring other businesses with a turnover of EUR 300 million to 400 million, and that it also expects to achieve organic growth of EUR 50 million to 60 million over the next three to four years. If Gerresheimer delivers on its plans it is thought the company could grow its turnover to over EUR 1 billion, compared to EUR 543 million in 2003. In particular, Gerresheimer is hoping to use acquisitions to strengthen its business with the pharmaceuticals industry. At present, 74% of turnover is derived from this industry, with the remainder coming from the cosmetics industry. The company is also aiming to break into the Chinese and Russian markets. In 2004, Gerresheimer is anticipating a rise of over 15% in its operating profit. In 2003, the company achieved a pre-tax profit of just under EUR 10 million.

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