Gerresheimer Glas AG, the glass maker which has been sold by the former Viag AG to a subsidiary of investor group Investcorp, lifted turnover by 17% to Euros 297m in the first half of 2000. Part of the growth came from the rise in the value of the dollar. Pre-tax profits totalled Euros 5.6m. Operating profits before goodwill writedowns were almost unchanged at Euros 20.4m. Investcorp completed its public offer for Gerresheimer, acquiring 23.61% of shares in the German glassmaker from external shareholders. The new shares bring the total holding in Gerresheimer held by Investcorp & its private equity partner Chase Capital Partners to 96.57%, the company said. Gerresheimer's former parent Viag agreed in May to sell its 72.96% stake to Investcorp and Chase Capital Investments, apart of Chase Manhattan Corp. Viag has since merged with Vega AG to form E.ON AG.
