Pharmaceutical packaging firm Gerresheimer AG is accepting bids for its technical plastics segment, which it acquired last year.
Dusseldorf-based Gerresheimer acquired the unit when it bought top European drug-delivery-system molder Wilden AG of Regensburg, Germany, in January 2007.
In that deal, Gerresheimer picked up about 450 injection presses, eight plants and four joint ventures as part of two divisions medical plastic systems and technical plastic systems.
The medical plastic systems division has been fully integrated into the firm's portfolio, while the technical plastics unit does not fit with the company's core business, said an Aug. 1 news release.
``Through the sale of the technical plastics business we are, as previously announced, continuing our focus on the core business of pharma and life science,'' said Axel Herberg, Gerresheimer's chief executive officer.
The technical plastics segment employs about 550 at locations in Germany, the Czech Republic and Mexico as well as through joint ventures in Italy and Bulgaria. It manufactures components for suppliers to the automotive industry. The product focus is on vehicle electronics, powertrains and chassis as well as interior components, the release said.
The segment expects to report 2008 sales of about $109 million.