10 December 1998: Belgian glassmaker Glaverbel SA has confirmed it sold its Termofrost subsidiary to the Schott-Glaverbel BV joint venture for BFr 500 million (US$ 14.58 million). Glaverbel said the s…
10 December 1998: Belgian glassmaker Glaverbel SA has confirmed it sold its Termofrost subsidiary to the Schott-Glaverbel BV joint venture for BFr 500 million (US$ 14.58 million). Glaverbel said the sale of the Swedish subsidiary, which is still subject to regulatory approval, is expected to have a positive impact on its debt position and have “a slight favourable influence on its overall results for 1998”. Termofrost, which will be renamed Schott Termofrost, is the European leader in producing and marketing special glass panels for refrigeration and deep-freeze units. Termofrost had 1997 sales of BFr 827 million.