It was announced in November 1995 that the glass bead operations of Belgian glassmaker Glaverbel are to be sold to American Southeast Partners to cut debts by BFr 1.2 billion.
A Glaverbel statement s…
It was announced in November 1995 that the glass bead operations of Belgian glassmaker Glaverbel are to be sold to American Southeast Partners to cut debts by BFr 1.2 billion. A Glaverbel statement said the operation would generate a capital gain to be determined at the end of the year when the sale is expected to be closed. It said the new shareholders would keep existing commitments with personnel and pursue the development of the activities transferred. The company also stated that it is to invest several tens of millions of francs in the construction of a new storage facility at its plant in Athus, Luxembourg. In October 1995, the unit, which produces laminated security glass for buildings, celebrated its fifth year of activity in a growing market.