May 17 2005
Alcan Inc. announced today that it has reached an agreement to purchase Interglass, a privately owned company located in Toronto, Canada, specialised in the converting of glass tubing. This will enhance Alcan Packaging's North American market position in Pharmaceutical Packaging, with the expansion of glass vials and ampoules production.
"Interglass will extend Alcan's access to new product markets in Canada through the production and sale of high quality glass vials and ampoules," said Christel Bories, President and Chief Executive Officer, Alcan Packaging. "Furthermore, Interglass is a good complement to our existing glass tubing operations in the United States," she added.
Interglass employs 80 employees and generated 2004 sales of CAN$11 million. It is a qualified supplier to the North American pharmaceutical market.
Alcan expects the integration of Interglass to be completed in the second quarter of 2005. Terms of the transaction were not disclosed.
http://www.alcan.com/