Germany's Gerresheimer Glas AG announced it had purchased a glass plant from US group Owens-Illinois for an undisclosed sum, strengthening its North American presence. Gerresheimer, a subsidiary of German utility Viag AG, said it had bought the Chicago Heights factory, which produces glass for pharmaceutical packaging and has annual sales of about DM65m. Gerresheimer said that the acquisition was part of a globalization strategy. The company is also reported to be negotiating with French group Danone and financial investors over the establishment of a European joint venture into which both firms would contribute their food and drink container glass divisions. Earlier, the company reported a clear improvement in profits. Shareholders will benefit from this in the form of an increased dividend of DM1.00 (DM0.40) per share.
