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Send  Share  RSS  Twitter  17 Nov 2011

VENTURES: Nampak Invests Almost R1 Billion in Glass Packaging

 





Recent Gauteng Business News

Nampak today announced that it has acquired the other 50% share in its glass packaging business from Wiegand-Glas for R938 million.

Nampak Looking to Grow Glass Operations


Andrew Marshall, CEO of Nampak said “this acquisition is part of our strategy of investing in our core businesses where we believe we have competitive advantages. As a result, Nampak is looking to grow its glass operations in South Africa and the rest of Africa. This will be more easily achieved by us owning 100% of the glass business.

Wiegand-Glas Remain with Nampak


Although they will no longer be shareholders in the business we are pleased that Wiegand-Glas have agreed to remain at Nampak as our technical service provider”

The transaction is subject to the approval of the Competition Authorities.


 
 
 
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