Pharma and healthcare products manufacturer Gerresheimer has strengthened its presence in emerging markets with the acquisition of a majority shareholding in the Indian company Neutral Glass & Allied Industries Pvt. Ltd.
The Düsseldorf-based company says the move will help it to target the “rapid growth of the pharma sectors” in emerging markets, by building on its existing network of five plants in South America, seven in China and representative offices in Moscow and Mumbai.
“Neutral Glass is a leading manufacturer of high quality glass pharmaceutical packaging products which has achieved profitable growth over recent years,” says Gerresheimer CEO Uwe Röhrhoff. “The Indian pharma market is gaining in international significance and is growing at an impressive rate.”
Founded in 1986, the formerly family-owned Indian business consists of a head office in Mumbai and a moulded glass plant in Kosamba, Gujurat, with four furnaces and 12 IS lines, producing about 800 million units a year of medium to small size glass containers for pharmaceutical (type I & III) applications, amber and flint vials and other items including bottles for liquid oral formulations and injectables.
Gerresheimer now holds 70% of the company – which in the 2010/11 financial year generated annual revenues of approximately INR1.0bn, equating to about €15m – with the former owners retaining a 30% shareholding.
Following the March 2011 purchase by Gerresheimer of Védat, Brazil’s leading pharmaceutical plastic packaging products manufacturer, the company has stated its objective is to double revenues in emerging markets from €100m in 2010 to €200m in 2013.
The Kosamba, India plant of Neutral Glass & Allied Industries - now majority controlled by Gerresheimer Neutral Glass, India, produces glass containers for pharmaceutical applications
