Rexam, buyout firms to bid for Calmar-sources

Date: 30 December 2005
Source: Reuters.com

Date: 30 December 2005

Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.

PA: Quote, Profile, Research) is considering selling, sources familiar with the situation said.

First-round bids for the business, which if sold is set to fetch between $700 and $900 million, are due around January 12, the sources said on Friday, adding the information memorandum has been received by potential bidders.

The world's biggest materials supplier confirmed last month it may sell some activities but insisted it is under no pressure to do so as it already had the financing of the 3.9 billion pound acquisition of British plasterboard maker BPB (BPB.L: Quote, Profile, Research).

A spokesman at Saint-Gobain declined to comment on Calmar, adding: "We have already said that all our options are open."

Other bidders for the business, which has a large U.S. presence, could include North American packagers such as Alcoa (AA.N: Quote, Profile, Research), Ball Corporation (BLL.N: Quote, Profile, Research), Crown Packaging and Owens-Illinois (OI.N: Quote, Profile, Research), the sources said.

U.S. buyout firms such as the Blackstone Group, which owns German packager Gerresheimer Glas, the Carlyle Group, Apollo and Madison Dearborn, may also bid for the business, the sources said.

Sources had told Reuters last month that Calmar was among the businesses Saint-Gobain was considering selling. Along with any sale of perfume bottle maker Desjonqueres, Calmar was expected to fetch more than 1 billion euros.

600450 Rexam, buyout firms to bid for Calmar-sources glassonweb.com

See more news about:

Others also read

Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.
Japan 1 2 1 S. Korea 6 6 3 Southern Taiwan 4 2 0 Central Taiwan 0 4 2 AGC Japan 0 1 1 Taiwan (Yunlin) 1 1 1 Source: PIDA (Photonic Industry & Technology Development Association) Taiwan TFT-LCD Panel Makers Happy to See Substrate-price Falls in 2006 Taipei, Dec. 27, 2005 (CENS)--Both of the world's top-two glass-substrate makers are actively expanding their production capacity in Taiwan, which is expected to cut substrate transportation time and cost for local thin film transistor-liquid crystal display (TFT-LCD) panel makers and boost production efficiency, according to Michael Wang, project manager and senior analyst of Taiwan's PIDA (Photonic Industry & Technology Development Association).According to Wang, Asahi Glass Co. (AGC) of Japan has solved problems in lowering the defect-free rate for the production of fifth- and sixth-generation (5G, 6G) glass substrates, and is expected to tap the market with products with higher price competitiveness in 2006 to grab more market share in the 6G substrate businessIn addition, Wang added, the aggressive capacity added by both Corning of the U.S., the world's No. 1 substrate supplier, and AGC, the No. 2, will lead to price drops for glass substrates and will especially benefit TV panel makers such as AU Optronics Corp. (AUO) and Chi Mei Optoelectronics Corp. (CMO) in TaiwanCurrently, Wang pointed out, a 6G substrate is priced at about 27,000 to 30,000 Japanese yen, about 1,000 to 2,000 yen lower than in the third quarter of 2005.

Add new comment