Libbey Inc, the US manufacturer of glass tableware, plans to acquire a glass tableware manufacturer in Europe to complement its existing EU plant Royal Leerdam in the Netherlands. The acquisition is being negotiated at present and Libbey expects to complete the purchase shortly. "The acquisition is expected to be a cost-effective complement to Royal Leerdam," Libbey's chairman & CEO John Meier says. It is part of a plant to re-align Libbey's global glass tableware production capacity and to expand the company further internationally. The plan will also see the closure of a US plant, at City of Industry outside LA in California, in early 2005. Production will be transferred elsewhere and around 140 jobs are expected to be hit. At the same time, Libbey is negotiating to set up a new production plant in China.
