Schott Glas - Bharat Glass Acquisition

Schott Glas has acquired leading Indian pharmaceutical tubes producer Bharat Glass Ltd., giving the German company its first production subsidiary on the subcontinent. It will be run as a division of Holding Schott Glass India (Mumbai), which is currently being set up. In addition, Schott has also acquired all the shares in Schott Igar Glass (in Jakarta, Indonesia), which produces ampoules and bottles for pharmaceutical and cosmetic applications. The company was set up jointly by Schott and Igar Jaya in 1995. Schott expects to lift turnover from Pacific Rim production to DM400m from the current DM90m by the year 2002. (whole item)