Nampak: strong investments in glass packaging

Nampak has announced that it has acquired the remaining 50% share in its glass packaging business from Wiegand-Glas, and is looking to grow its glass operations in South Africa and the rest of Africa.

Nampak has announced that it has acquired the remaining 50% share in its glass packaging business from Wiegand-Glas for ZAR 938 million.
Andrew Marshall, CEO of Nampak said: “this acquisition is part of our strategy of investing in our core businesses where we believe we have competitive advantages. As a result, Nampak is looking to grow its glass operations in South Africa and the rest of Africa. This will be more easily achieved by us owning 100% of the glass business.”
“Although they will no longer be shareholders in the business we are pleased that Wiegand-Glas have agreed to remain as our technical service provider.”
The transaction is subject to the approval of the Competition Authorities.