Plm Buys Into Danish Packaging Firm

PLM AB announced in February that it had reached an agreement to acquire 25% of shares in Danish glass and plastic packaging manufacturer Holmegaard Emballage A/S. PLM will also receive an option to buy the remaining shares at a later stage. PLM was to acquire the shares from glassmaker Royal Copenhagen A/S, which currently owns all of Holmegaard Emballage. Holmegaard reported sales of DKr710m in the 1995/6 financial year and a pre-tax profit of DKr60m.