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

Image

Small is beautiful in Nissei's newest press

November 21, 2014 2:14 pm ET

Responding to customer demand for flexibility, Japanese plastics-equipment manufacturer Nissei Plastic Industrial Co. Ltd. is demoing a caster-...    More

Image

Three advancements have driven injection molding technology

November 21, 2014 6:00 am ET

Injection molding technology has made major advances in the last 25 years, from largely a world of shoot-and-ship to doing as much as possible at the ...    More

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

Thomson Plastics opens N.C. plant

November 20, 2014 3:12 pm ET

Custom injection molder Thomson Plastics Inc. has opened a new manufacturing facility in Lexington, N.C.    More

Image

PET film maker Evertis expanding production in Mexico, Brazil, Portugal

November 20, 2014 2:52 pm ET

Evertis, a PET film maker, is expanding production at plants in Mexico, Brazil and Portugal, the company said.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events