Spanish glass container manufacturer Vidrala has informed the government competition regulator (SDC) of the agreement it has reached with Owens-Illinois for the acquisition of the US container giant“…
Spanish glass container manufacturer Vidrala has informed the government competition regulator (SDC) of the agreement it has reached with Owens-Illinois for the acquisition of the US container giant“s plant at Castellar del Valls (Barcelona). The SDC, which comes under the Ministry of Economy and Finance, will now have to decide whether to approve the sale or refer it to the Competition Court. The Castellar del Valls plant belongs to French glass group BSN Glasspack, which was acquired by Owens-Illinois in June 2004. Vidrala announced 18 November 2004 that it had reached agreement on the acquisition of the Owens-Illinois plant at Castellar del Valls and a second plant at Corsico, near Milan, for EUR 138.2 million. The incorporation of the two plants will allow Vidrala to increase its capacity by 55% or 340,000 tonnes a year. Owens-Illinois committed itself to divesting the plants in order to gain EU regulatory approval for the takeover of BSN Glasspack.