Comar Inc. has announced the successful completion of the sale of its glass division to Gerresheimer's Kimble Glass operation on 30 March 2007. Kimble Glass Inc. is a manufacturer & marketer of tubular glass products throughout N America. Comar will retain its glass pipette manufacturing capabilities. Kevin Rudd, president of Curtis Financial Group, a PA-based regional investment banking firm, served as the exclusive financial advisor to Comar in the divestiture transaction. Included in the transaction are the real estate, manufacturing equipment, plant operations & management personnel. The glass pipette manufacturing equipment & associated operating personnel will be moved to the Comar plastic operations in Buena, NJ. Assembly of the pipettes into glass dropper assemblies will continue at the Buena facility. Mike Ruggieri, Comar's General Manager, said: "We are very pleased to turn over the Glass Division to the Kimble Glass Group. We are confident that they will provide the energy and support required to continue to grow the glass business in Vineland". As part of its corporate strategy, Comar intends to reinvest the capital obtained from the divestiture of the Glass Division in its rapidly growing Pharmaceutical and Healthcare plastics packaging business.
