Spanish Glass Manufacturer to Buy Plants

Date: 19 November 2004
Source: Forbes.com

Date: 19 November 2004

Spanish glass manufacturer Vidrala SA said Thursday it will pay euro138.2 million ($189 million) for two European production plants of Owens-Illinois Inc. of the United States.

The two glass-container manufacturing plants are in the Catalonia region of northeast Spain and in Milan, Italy.

Owens-Illonois was forced to sell the assets after its purchase of France's BSN Glasspack SA raised competition concerns at the European Commission.

Vidrala said the acquisition - which is subject to EU approval - would be the the biggest it has ever made and will increase its production capacity by 55 percent.

600450 Spanish Glass Manufacturer to Buy Plants glassonweb.com

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