Consistent Continuation of Globalisation Path and Extension of Product
DUSSELDORF, Germany, December 21 /PRNewswire-FirstCall/ -- Gerresheimer AG is consistently continuing its strategy of globalisation and extension of product offerings in the pharma and life-science sector. With the acquisition of the Spanish company EDP S.A. it gains a leading manufacturer of pharmaceutical plastic packaging which contributes to the Group a total of three plants in Southern Europe and South America. "Regional expansion opens up important new growth markets for our Plastic Systems Division. At the same time, EDP ideally complements our existing product portfolio thus offering globally exploitable synergies," comments Gerresheimer CEO Dr. Axel Herberg. The transaction is expected to be completed at the end of January 2008.
As a leading specialist for pharmaceutical primary packaging and application systems, Gerresheimer has for a considerable time enjoyed a strong position with glass products like syringe systems and pharmaceutical vials; in parallel it has expanded its pharmaceutical and medical plastics business, so far in Europe particularly. The acquisition of the new company specialising in plastic substantially expands its sphere of activity in this segment.
EDP with production plants in Spain (Zaragoza and Valencia) and Argentina (Buenos Aires) concentrates on PET containers for the pharmaceutical industry and is the market leader in this important field. This company's annual sales total around EUR32m.
The products of the EDP company provide an ideal match, which will by no means be limited to the local markets. Pharma packaging based on PET, as produced by EDP in Spain and Argentina, represents a real range expansion, which Gerresheimer can complement with drug delivery systems to provide a system approach. At the same time, the Spanish and South American markets of the new subsidiary are opened up for innovative packaging and system technologies from existing Gerresheimer plants. Gerresheimer's pharmaceutical plastics business ranks among the market leaders, so far in Europe particularly.
As Herberg stresses, full integration of the new company into the Group is to be completed in the first half of 2008. The new subsidiary currently achieves an EBITDA margin of around 17%. Through targeted technical and financial optimisation measures the EBITDA margin should be increased to well above 20%.
Gerresheimer employs around 10,000 people in 37 locations across
Europe, America and Asia. The Group's product range extends from glass and
plastic medicine bottles to complex drug-delivery systems for the pharma
and life-science industries. The product spectrum includes sterile
syringes, inhalers and other system-based solutions for safer dosage and
delivery of medications. The Group enjoys a leading position in a market
which is characterised by high technical and regulatory barriers and where
Gerresheimer's products must satisfy the strictest quality standards of the
international pharmaceutical supervisory bodies. The Group achieves
worldwide sales of more than EUR950m.
Director Corporate PR & Marketing
|SOURCE Gerresheimer AG|
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