Gerresheimer Starts Process to Sell off its Business Segment of Technical Plastics
- Further Focus on Pharma & Life Science
Gerresheimer AG is to discontinue its business in technical plasticsystems. The business segment, which primarily manufactures system componentsfor suppliers to the automobile industry, is not part of the core business ofpharma & life science. For this purpose the sale process has been startedthrough an international invitation for bids.
"Through the sale of the technical plastics business we are, aspreviously announced, continuing our focus on the core business of pharma &life science, "says Dr. Axel Herberg, CEO of Gerresheimer AG.
In the segment of technical plastic systems, Gerresheimer employs 550people at locations in Germany, the Czech Republic and Mexico as well asthrough joint ventures in Italy and Bulgaria, manufacturing system componentsfor suppliers to the automobile industry. The main product focus is onvehicle electrics, powertrain and chassis as well as interior. Sales ofaround EUR 70m are expected for this segment in the financial year 2008.
Gerresheimer acquired the technical plastics business in 2007 as part ofthe Wilden Group. While the Wilden Group's business in medical plasticsystems has today been firmly integrated in the Gerresheimer Group'sportfolio, the technical plastics segment does not belong to Gerresheimer'score business in pharma & life science. Through the sale, portfoliorationalisation in the Plastic Systems Division will be completed.
In June this year, the Dusseldorf company already sold off its consumerhealthcare business, which also did not fit in with its core business.
Gerresheimer employs more than 10,300 people in 40 locations in Europe,America and Asia. In the financial year 2007, worldwide sales totalled EUR958m. The product portfolio ranges from pharmaceutical vials made of glassand plastic through to complex drug-delivery systems for the pharma & lifescience industry. These include sterile syringes, inhalers and othersystem-based approaches for safe dosage and application of medications. TheGroup enjoys a leading position in markets which are characterised by hightechnical and regulatory barriers.Contact Press Burkhard Lingenberg Director Corporate PR & Marketing Telephone: +49-211-6181-250 Telefax: +49-211-6181-241 E-mail: firstname.lastname@example.org Contact Investor Relations Anke Linnartz Director Corporate Investor Director Corporate Investor Relations Telephone: +49-211-6181-314 Telefax: +49-211-6181-121 E-mail: email@example.com
SOURCE Gerresheimer AG
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