November 19, 2013|P. Carlo Ratto
- Ardagh Group SA is closer to acquiring Verallia North America for an estimated $1.7 billion after striking a possible deal with the US Federal Trade Commission. Ardagh offered to sell four of the newly acquired glass plants in an effort to FTC’s competitive concerns. It now expects to finalize the acquisition by mid-January.
- Venture capital firm Equistone Partners Europe Ltd has sold its stake in Yorkshire, UK, container manufacturer Allied Glass Containers Ltd. The deal with CBPE Capital is believed to be worth £120 million to £130 million.
- (Glass Magazine) Nippon Sheet Glass Co. plans to close its Lathrop, Calif., Pilkington plant, citing the facility’s need for repairs and new pollution-control equipment to meet air-quality standards. Production at the 50-year-old plant will cease in February, affecting about 115 workers.
- (Glass on Web) Kapiri Glass Factory of Zambia is set to reopen operations in July 2014. The company has received backing from a new local investor, Chimsoro Milling Co. Ltd.
- (Glass in China) PPG Flat Glass says it will increase prices up to 12% on some of its primary glass products. The company attributes the increase to “material, operating and distribution costs despite continuing implementation of productivity improvements and cost mitigation efforts.”
- Vienna, Austria-based global refractories supplier RHI AG says its third-quarter revenue fell to €427.4 million, down 4% from the previous quarter. Revenue in the Steel division declined by 3.6% due to weaker than expected business conditions in Europe. The company reports revenue for its Industrial division declined 4.7% due to technical problems in its newly constructed fusion plant in Norway.
- Brazilian magnesia, graphite, and refractories producer Magnesita Refratarios says its third-quarter results fell short of expectations due mainly to sinter production problems at its Brumado and Contagem sites. The company’s plant in Chizhou, China, also underwent a scheduled shutdown for maintenance of its tunnel kiln