Saint-Gobain launches Verallia sale
French building materials group Saint-Gobain is launching the sale of its European glass bottle maker Verallia in a potential 3 billion euro ($3.45 bln) deal, two people familiar with the matter told Reuters. The deal comes after the French group sold Verallia’s U.S. operations to Irish Ardagh for $1.7 billion, and amid a messy takeover situation for Saint-Gobain in Switzerland. The sale of the remaining Verallia business, which should be organised by JP Morgan and BNP Paribas will likely be launched in late February or in March.
Mina secures loan to expand production lines
Georgia’s only glass bottle manufacturer, Mina, has secured a loan to expand its production lines and boost growth. IFC, a member of the World Bank Group, will provide a senior loan of $8.5 million and will help secure a parallel senior loan of €5 million from Rabobank for Mina’s expansion. Mina is owned by Anadolu Cam, the glass packaging arm of Turkey’s Sisecam.
Ardagh to invest $71 million in Indiana plant
Ardagh plans to invest $71 million at its Winchester, Indiana plant. The money will be spent on making improvements to the 78-year-old facility that employs 400 people. The plant was owned by Anchor Glass Container Corp before Ardagh Group purchased the company for $880 million in August 2012.
Trulite to close Herbon, Ohio plant
Trulite Glass and Aluminum Solutions will close its Hebron, Ohio, plant this spring, according to an article in The Newark Advocate. The plant is one of 10 locations Trulite purchased from AGC Glass Company North America in late December.
Zimglass struggles to attract new investors
Zimbabwe’s sole packaging glass manufacturer, Zimglass, is struggling to attract new investors amid declining demand for its products due to a shrinking market and competition from alternatives such as plastic, an official said. Zimglass voluntarily applied for judicial management in June last year citing lack of capital, debt and mismanagement.
Scheuten to close Dutch production plant
Scheuten intends to close its Dutch insulating glass production plant in Fijnaart (Scheuten Glas Randstad) in the course of February. This will align the production capacity of Scheuten to the lower market demand.