Glass manufacturer Frigoglass is to sell its glass operations business to GZI Mauritius Ltd (GZI). GZI is the holding company of GZ Industries Ltd, the largest beverage can manufacturer in West Africa with manufacturing operations in Nigeria, which is now expanding into Kenya. The operations being sold consist of all Frigoglass' glass container operations in Nigeria and Dubai, as well as its plastic crates and metal crowns businesses in Nigeria. The company has also reached an agreement to acquire the minority interest in its Frigoglass Jebel Ali business (Dubai), which will also be part of the transaction. The Glass Operations management team and employees will be transferred with the business on disposal. The business has 1,588 employees in Nigeria and Dubai. The acquisition is valued at US$ 225M and is expected to be completed later this year.
