Rexam Still Acquiring

Rexam expects to spend a further £50M on acquisitions following its purchase of Germany's Luner Glashuttenwerke in early January. The Luner acquisition is its second in Germany in recent weeks, and follows Rexam's purchase of Nienburger Glas last year to give Rexam an estimated 25% share of Germany's glass packaging market. Now Rexam is trying to raise £130M thorough share sales to pay for Nienburger and Luner Glas and for future smaller acquisitions. Michael Hartnall, Rexam's finance director says, "We are talking about smaller deals, between £50M and £100M, which will be funded out of existing cash." (whole item)