Ceramic Industry News

Rexam Sells UK Glass Business

June 1, 2005
/ Print / Reprints /
ShareMore
/ Text Size+
Rexam recently announced that it has sold its glass business in Barnsley, UK, to Ardagh Glass for a cash consideration of GBP 50m. The proceeds will be used to pay down borrowings. In 2004, the Barnsley business, which employs 700 people, had an operating profit of GBP 3m on sales of GBP 101m. As of December 31, 2004, it had net operating assets of GBP 59m. "The UK glass market is facing a difficult outlook, and new capacity coming on stream will only exacerbate the situation," said Lars Emilson, chief executive of Rexam. "After reviewing our options, we felt that, as the number three player in the UK glass industry, divestment in this case was the best course of action. Rexam remains firmly committed to its glass customers and the glass container business. We continue to focus on further developing our glass business in northern continental Europe, where we have a solid market position, and in the fast growing markets of Eastern Europe."

For more information, visit http://www.rexam.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

May 2014 Issue Highlights

Our May 2014 issue is now available!

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI August 2014 cover

2014 August

Explore technical ceramics, glasses and refractories in our August issue!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px