Volume 37, Issue 6, June 2002
Vitro Sells Interest
in Apolletas S.A.
Mexico-based Vitro S.A. has sold its 51-percent interest in Apolletas S.A. to its joint partner, Gerresheimer Glas AG. Vitro will receive net proceeds of $13.4 million dollars, which will be dedicated to reduce debt, according to the company. Vitro expects its debt to be reduced by $7.8 million on a consolidated basis after the sale.
Ampolletas S.A. was a 51-49 joint venture between Vitro and Gerresheimer Glas AG and is a manufacturer of tubing-glass packaging for pharmaceuticals, based in Mexico. The German-based Gerresheimer Glas AG also is a packaging supplier using tubular, specialty and container glass, along with plastic.
“The sale of our interest in Ampolletas to our partner is in line with our stated strategy to focus resources in maintaining and developing our core business of flat glass, glass containers and glassware throughout the world,” said Vitro’s chief executive officer, Federico Sada. “Resources obtained from this and other sales of non-core businesses will be used to strengthen our financial position.”
Pennsylvania Governor Visits Asahi Glass Corp.
Pennsylvania’s Gov. Mark Schweiker recently met with executives from Asahi Glass to thank the company for its investments in Pennsylvania and to discuss potential expansion plans. In addition, Gov. Schweiker met with officials from TYK Corp. and Sekisui Chemical Co.
Asahi and these two currently support approximately 1,700 jobs in Pennsylvania—1,500 of which are supplied by Asahi.
The Tokyo-based company has a manufacturing facility in Downingtown, Pa., along with a joint venture with Corning, Corning Asahi Video, which is located in State College, Pa. The facility manufacturers panels and funnels for large-screen television screens and employs about 800.
Asahi also has a joint venture with Sony, called American Video Glass, which is located adjacent to Sony’s own facility in Mount Pleasant, Pa. The facility manufacturers glass for Sony’s televisions, employing approximately 700 people.
“During [these] meetings, we discussed the companies’ investments in Pennsylvania, and explored how our Commonwealth can assist in any potential expansion projects that could result in more good-paying jobs for Pennsylvanians,” Schweiker said.
German Company to Launch Glass Business in Kyrgyz
The German company Heinrich Blaser recently purchased a factory in Central Asia’s Northern Kyrgyz Chuy Region, and plans to open a glass business there, which will be called Interglass, reported the Kyrgyz Foreign Trade and Industry Ministry.
Reportedly, the German company plans to invest $10 million in the factory. According to a news release, the factory will be able to meet the demand for glass in both Central Asia and in the Russian regions of Siberia and Urals.
© Copyright Key Communications Inc. All rights reserved. No reproduction of any type without expressed written permission.