BA/WGG Press Release

Date: 22 September 2011
Source: BA Vidro/bavidros.com

Date: 22 September 2011

BA Vidro has concluded an agreement to acquire 80% of WARTA GLASS GROUP, a Polish glass packaging company headquartered in Poznan.

The remaining 20% will stay in the hands of the current owner Mr. Wojciech Pawlowski, who will stay as Chairman of the Supervisory Board. Mr. Carlos Moreira da Silva, Chairman of BA and well acquainted with the Polish market, will also join the Supervisory Board of Warta.



The transaction involves the acquisition of the two Polish plants of Warta Glass, with 280.000 tons of annual capacity and 4 furnaces. The company has 650 employees in the headquarters and in the plants of Sierakow and Jedlice. Warta Glass is the Polish leader in spirits bottles and food jars, with a market share of 46% and 20% in those segments.



With this acquisition BA Vidro expands its natural market to Eastern Europe, where the economic potential may support the continuous and steady growth that BA has been experimenting in the last decade.



Sandra Santos, the CFO of BA who led the negotiations, stated that "is very hopeful that this acquisition will be the springboard for a consistent growth of the group in Eastern Europe and, with this new platform, BA will be better positioned to serve our current international customer base". “We strongly believe through this partnership, significant value added will be created for both our clients as well as our companies” adds Joanna Jaroszyk, CEO of Warta Glass.
600450 BA/WGG Press Release glassonweb.com

See more news about:

Others also read

MORE...

New Product Allows Building Windows to Become "Solar Farms"
Proprietary laminate windows collect, store energy; convert it to electricityRIVIERA BEACH, FL – An innovative new patented technology transforms office building windows into "solar farms" and allows these structures to reuse collected energy and become self-sufficient in the event of a power outage.
Solar Photovoltaic (PV) Power Market - Global Solar Photovoltaic Market Will Sustain its Growth Momentum
DALLAS, Texas, December 22, 2011 /PRNewswire/ --ReportsnReports adds new market research report 'Solar Photovoltaic (PV) Power - Global Market Size, Installation Prices, Module Market Shares, Market Segmentation, Regulations and Key Country Analysis to 2020' to its store.
Historically-styled windows contribute to modern comforts, architectural integrity, sustainability of U of MN Folwell Hall renovation
The University of Minnesota's historic Folwell Hall completed three years of extensive renovation, just time for the 2011 academic year.
AAMA Corporate Membership Renewal Process Opens, Recruitment Incentive Program Added
The renewal process for AAMA Corporate Members is now open. AAMA Corporate Membership is available to businesses involved in the manufacture, sale or service of fenestration products and is renewed on an annual basis.
Smart Hotel Bathroom Interiors
Today designers and architects are looking to the hotel bathroom as the new frontier of the guestroom, turning what has long been a mostly functional space into a haven and means of escape.
Glassman Glass Machinery has gained delightful harvest over 12 days after ZAK Glass Technology Exhibition during 8-11 December 2011, in Mumbai, India.
Glassman as one of the largest glass processing machine manufactures in the world presented ZAK Glass Technology Exhibition during 8-11 December 2011, in Mumbai, India.

Add new comment