Gerresheimer buys India's Triveni Polymers

Published: December 18, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Medical, Packaging, Blow Molding, Injection Molding

DÜSSELDORF, GERMANY (Dec. 18, 12:30 p.m. ET) — Injection molder Gerresheimer AG has acquired a majority share of Triveni Polymers Ltd. Pvt., an Indian manufacturer of plastic containers and closures for the pharmaceutical industry.

Gerresheimer bought a 75 percent stake in the company for multiple of about 10 times earnings before interest, taxes, depreciation and amortization (EBITDA), although exact terms were not disclosed.

Triveni’s owners will retain a 25 percent of the company’s shares, among them the company’s current managing director who will retain his position.

The deal is scheduled to close this month.

The acquisition will speed-up Gerreshmeimer’s growth in emerging countries, said Chief Financial Officer Hans-Jürgen Wiecha.

Triveni, based in New Delhi, has annual sales of approximately INR 1.3 billion ($26 million), according to Gerresheimer. The company was founded in 1979. In 1995, it became the first Indian company to submit drug master files for packaging materials to the U.S. Food and Drug Administration, according to a news release from Gerresheimer.

Triveni has more than 300 employees and a manufacturing plant in Kundli with extrusion blow molding and injection blow molding capabilities. In addition to pharmaceuticals, Triveni makes packaging for personal care and cosmetics, food and beverage, home care, and lubricants and chemicals, according to the company’s website.

Gerresheimer, based in Düsseldorf, makes glass and plastic specialty products for the pharmaceutical and healthcare industries. The firm has approximately 11,000 employees across 47 locations in Europe, North and South America, and Asia, and annual sales of about 1 billion euros ($1.3 billion).

In April Gerresheimer acquired Neutral Glass, an Indian manufacturer of glass pharmaceutical products.


Comments

Gerresheimer buys India's Triveni Polymers

Published: December 18, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Some medical devices could get faster approval with new FDA rules

April 22, 2014 7:41 pm ET

The U.S. Food and Drug Administration is proposing an expedited approval for medical devices for devices aimed at the diagnosis or treatment of...    More

Image

Two Ohio groups team up to accelerate development of future medical devices

April 22, 2014 9:55 am ET

The Austen BioInnovation Institute in Akron and Cleveland-based design specialists Nottingham Spirk announced a strategic partnership that the two...    More

Image

Pregis Corp. to get new owner

April 22, 2014 11:44 am ET

The private equity owner of Pregis Corp. is selling off its North American operations for an undisclosed sum.    More

Image

German electronics firm expanding in Hungary

April 22, 2014 9:46 am ET

German electronics manufacturer Provertha GmbH has announced plans to set up a new plastic galvanizing plant at the Kapuvár Industrial Park, in...    More

Europe's bag use still expected to climb despite possible bag restrictions

April 22, 2014 9:29 am ET

Ceresana, a Germany-based research company, has released a report forecasting that by 2020 the sales volume of bags and sacks in Europe will reach 9.1...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 – The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events