DÜSSELDORF, Germany, February 4 /PRNewswire-FirstCall/ --
- Sales up by 48% at EUR958 Million - EBITDA Margin Reaches High Level of 19%
- Another Acquisition in the Target Segment of Pharmaceutical Plastics in South America: Brazilian Market Leader for Pharma Plastic Taken Over
According to provisional figures, Gerresheimer AG has just completed another record year. In 2007 the company achieved sales of EUR957.7m, up by 48.1%; the adjusted Group EBITDA margin reached 19%. "This gratifying development completely and fully confirms our strategy," says Dr. Axel Herberg, Chief Executive Officer of Gerresheimer AG: "With the help of acquisitions we have successfully expanded our global presence and set the course for further growth."
Rapid expansion of operations in the South American pharma and life science market
Shortly after taking over EDP S.A. with production in Spain and South America, this international company based in Dusseldorf, Germany, now announces the acquisition of ALLPLAS Embalagens Ltda. (Sao Paulo), which is the market leader for pharmaceutical plastic packaging in Brazil. This marks the successful completion of another important step in the global expansion of the Gerresheimer Group.
For Gerresheimer's Plastic Systems Division, finalisation of the latest contract puts the cap on a dramatic move into South America. It was only at the end of December last year that Gerresheimer, as reported, acquired EDP, the Spanish market leader for pharmaceutical PET bottles, thereby also establishing a foothold in South America for the first time. With Allplas, which operates two production plants in Sao Paulo, Gerresheimer now already has three strategically important bases in the region.
The Brazilian company is a well-established supplier to the pharmaceutical industry, with innovative products and a reputation for high quality. Allplas manufactures high-calibre vials and application and closure systems for liquid formulations and solid dosages (for example eye drops and tablets), which ideally complement - and can be combined with - Gerresheimer's product range. The Group's existing product portfolio in the field of plastic packaging, which has so far been marketed primarily in Europe, will as a result increasingly find its way into the South American pharmaceutical markets.
Allplas currently achieves annual sales equivalent to around EUR16m. The EBITDA margin is 16%, which will be continuously improved in the years ahead. Integration in the Gerresheimer Group is to be completed by mid-2008. Like EDP, Allplas will become part of Gerresheimer Plastic Packaging, which specialises in pharmaceutical primary packaging and application systems under leading trademarks such as Duma(R), Dudek(TM) and EDP(TM). Together with the two acquisitions, Gerresheimer's plastic operations achieve a total annual sales volume of around EUR350m, of which around EUR100m is attributable to the plastic packaging segment.
Including the two acquisitions, Gerresheimer employs more than 10,800
people in forty locations in Europe, America and Asia. In the financial
year 2007, worldwide sales totalled EUR957.7m. The product portfolio ranges
from pharmaceutical vials made of glass and plastic to complex
drug-delivery systems for the pharma and life-science industry. These
include sterile syringes, inhalers and other system solutions for secure
dosage and application of medications. The Group enjoys a leading position
in a market which is characterised by high technical and regulatory
barriers. Gerresheimer's products are subject to extremely rigorous quality
requirements stipulated by the international pharmaceutical supervision
Annual Press Conference February 26 2008
Annual General Meeting April 17, 2008
Director Corporate PR & Marketing
|SOURCE Gerresheimer AG|
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