01 August 2008 16:52 [Source: ICIS news]
TORONTO (ICIS news)--Gerresheimer AG has started the process to sell its technical plastics business, the Germany-based producer of advanced glass and plastics products for the pharmaceuticals sector said on Friday.
The technical plastics business, which produces components for suppliers to the automobile industry, employs 550 workers at sites in ?xml:namespace>
It is expected to achieve sales of €70m ($109m) this year.
Gerresheimer acquired the business as part of an acquisition last year but said it was not part of its core activities.
Previously a major producer of glass and plastics packaging for the consumer market, Gerresheimer is now focused on supplying the pharmaceuticals and life science sectors. It employs over 10,300 people in 40 locations worldwide.
($1 = €0.64)
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