Spanish container glass manufacturer Vidrala has signed a memorandum of understanding to acquire La Manufacture du Verre, Belgium“s only glass container maker. The operation, which is still subject t…
Spanish container glass manufacturer Vidrala has signed a memorandum of understanding to acquire La Manufacture du Verre, Belgium“s only glass container maker. The operation, which is still subject to due diligence, is said to be worth around EUR 35 million (including debt) and will be financed from the Spanish company“s reserves. The acquisition of La Manufacture du Verre will enable Vidrala to incorporate a sixth production plant. Its five existing plants are located in Spain, Italy and Portugal. The Belgian firm, whose plant is located in Ghlin near the border with France, has forecast turnover of EUR 50 million and EBITDA of EUR 5.1 million for 2007. In 2006, Vidrala recorded turnover of EUR 306 million and a consolidated net profit of EUR 29.26 million. In 2007, it expects to increase its consolidated net profit by 15% through cost containment and investments in improvements to production methods.