Vitro Sells its Ampolletas Stake to Gerresheimer Glas
April 23, 2002
Vitro, S.A. de C.V. recently announced that it has sold its 51% interest in Ampolletas, S.A. to its joint partner, Gerresheimer Glas AG. Vitro will receive net proceeds in cash of $13.4 million, which will be dedicated to reduce debt. Also, the divestiture will positively impact Vitro's debt, which will be additionally reduced as a result of the sale by $7.8 million on a consolidated basis. Ampolletas, S.A. was a 51-49 joint venture between Vitro and Gerresheimer Glas AG and is the largest manufacturer of tubing-glass packaging for pharmaceuticals in Mexico and Central America. The German-based Gerresheimer Glas AG is one of the leading international suppliers of high-quality packaging and system solutions using tubular, specialty and container glass, and also plastic.
The company's website is located at http://www.vitro.com.