Ceramic Industry News

Libbey Acquires Royal Leerdam

January 13, 2003
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Libbey Inc. recently announced that it has consummated the acquisition of the stock of B.V. Koninklijke Nederlandsche Glasfabriek Leerdam (Royal Leerdam) from BSN Glasspack. The deal was a cash transaction and is valued at 42.3 million euros. Royal Leerdam manufactures and markets high-quality glass stemware, including popular wine glasses. It operates a manufacturing and distribution facility in Leerdam, The Netherlands, and employs approximately 450 associates. The acquisition is consistent with Libbey's external growth strategy to be a supplier of high-quality, machine-made glass tableware products to key markets worldwide. In addition to contributing to sales, operating profits and bottom-line earnings, Royal Leerdam will add to the sizable cash flow generated by Libbey. As a result, it is expected to contribute to Libbey's track record of strong cash return on invested capital, regular debt reduction and increasing financial strength over time.

For more information, call (419) 325-2490 or e-mail myerssm@libbey.com .

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