Rexam Not To Bid For Gerresheimer

Rexam Plc says it has decided not to bid for Germany's Gerresheimer Glas AG after looking at its papers. "We felt we couldn't meet the expectations," Rexam chief executive Rolf Borjesson said after unveiling its annual results. Borjesson said that it would look at Schmalbach-Lubeca, ther German beverage can company, if and when it is put up for sale. Both Gerresheimer and Schmalbach are majority controlled by German conglomerate Viag. Borjesson also said it was aiming to sell its printing sector and its bulk packaging division in the near future to trade buyers. (whole item)