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Glaverbel sells Termofrost to Schott-Glaverbel

26 November 1998: Belgium-based glassmaker Glaverbel SA said it sold its Termofrost subsidiary to the Schott-Glaverbel BV joint venture for BFr 500 million (US$ 14.58 million).
Glaverbel said the sal…

26 November 1998: Belgium-based glassmaker Glaverbel SA said 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 is expected to have a positive impact on its debt position and have “a slight favourable influence on its overall results for 1998.” The sale is subject to regulatory approvals. 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.

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