Gerresheimer Glas, manufacturer of medical glass & flaconnage, has been acquired for an undisclosed sum by private equity investors advised by the investment & advisory company Blackstone Group. The glassmaker was previously owned by groups Investcorp & JP Morgan, who themselves acquired the business from Viag in 2000. Gerresheimer operates 16 factories in Europe & N America & employs 5,400 people worldwide. Its sales amounted to Euros 550M in 2003, more than 75% outside Germany. The company plans further expansion under its new owner. Dr A Herberg, CEO of Gerresheimer says: "We have systematically driven forward the internationalisation of our business over the past few years. Now is the time fort he next step. We are pleased to have found a partner in Blackstone who will contribute its expertise to achieving our target of further expansion".
