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Gerresheimer starts process to sell off its business segment of technical plastics
Dusseldorf (ots) -
-Further focus on pharma & life science
Gerresheimer AG is to discontinue its business in technical plastic systems. The business segment, which primarily manufactures system components for suppliers to the automobile industry, is not part of the core business of pharma & life science. For this purpose the sale process has been started through an international invitation for bids.
"Through the sale of the technical plastics business we are, as previously announced, continuing our focus on the core business of pharma & life science, "says Dr. Axel Herberg, CEO of Gerresheimer AG.
In the segment of technical plastic systems, Gerresheimer employs 550 people at locations in Germany, the Czech Republic and Mexico as well as through joint ventures in Italy and Bulgaria, manufacturing system components for suppliers to the automobile industry. The main product focus is on vehicle electrics, powertrain and chassis as well as interior. Sales of around EUR 70m are expected for this segment in the financial year 2008.
Gerresheimer acquired the technical plastics business in 2007 as part of the Wilden Group. While the Wilden Group's business in medical plastic systems has today been firmly integrated in the Gerresheimer Group's portfolio, the technical plastics segment does not belong to Gerresheimer's core business in pharma & life science. Through the sale, portfolio rationalisation in the Plastic Systems Division will be completed.
In June this year, the Düsseldorf company already sold off its consumer healthcare business, which also did not fit in with its core business.
Gerresheimer employs more than 10,300 people in 40 locations in Europe, America and Asia. In the financial year 2007, worldwide sales totalled EUR 958m. The product portfolio ranges from pharmaceutical vials made of glass and plastic through to complex drug-delivery systems for the pharma & life science industry. These include sterile syringes, inhalers and other system-based approaches for safe dosage and application of medications. The Group enjoys a leading position in markets which are characterised by high technical and regulatory barriers.
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