GRAHAM PACKAGING
Acquisition of Owens-Illinois containers unit
With the EUR 1.2 bn acquisition of the plastic containers business unit of Owens-Illinois (O-I, Toledo, Ohio / USA; www.o-i.com), Graham Packaging Company (York, Pennsylvania / USA; www.grahampackaging.com) will practically double in size. The move will make it a world market leader in extrusion blow moulded packaging with sales of USD 2.2 bn and 9,000 employees at 88 plants worldwide, including 15 in Europe. Financial support for the deal, set to close in the fourth quarter of 2004, is being provided by the BlackstoneGroup (New York / USA; www.blackstone.com). Blackstone has held the majority of Graham Packaging since 1998.
05.08.2004 Plasteurope.com [200691]
Published on 05.08.2004