Glass Group Inc. finds buyer

Date: 21 September 2005
Source: Nj.com

Date: 21 September 2005

The good news, Glass Group Inc. has found a buyer. The bad news is, it may cost up to 150 workers their jobs.

A bankruptcy court in Delaware has approved the sale of the Glass Group Inc. to a German company Gerresheimer Group, but Glass Group officials said Monday it is still unclear what impact this sale will have on the operation of the facility, as well as the jobs at the plant. "(Gerresheimer) bought the Millville Plant and warehouse," Leonard Nave, GGI vice-chairman, said Monday night."They are going to be purchasing it for $21.7 million."

Nave said the company has agreed with the unions to negotiate a contract for employment, meaning that the employees will get the opportunity for employment with Gerresheimer.

At this time, he said the exact number of employees to be retained is unknown, but he said "a substantial amount from the plant will be hired."

Les Orange, president of Local 219 of the Glass, Molders, Pottery, Plastics and Allied Workers Union, said the union is happy to have retained a majority of the jobs at the plant.

He said in talks with the company, they expressed an interest in keeping at least 250 union employees.

There are 400 union employees at the Millville plant.

"We don't know what they will do until the take over," Orange said, adding that he feels this deal was the best they could do considering the alternatives. "We have concerns about losing any of (the jobs)."

600450 Glass Group Inc. finds buyer glassonweb.com

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