Canadian aluminum colossus Alcan Inc. announced 16 May 2005 that it has reached an agreement to buy Interglass, a privately owned company located in Toronto, Canada, which is specialised in the conver…
Canadian aluminum colossus Alcan Inc. announced 16 May 2005 that it has reached an agreement to buy Interglass, a privately owned company located in Toronto, Canada, which is specialised in the conversion of glass tubing. The acquisition will enhance Alcan Packaging“s North American market position in Pharmaceutical Packaging, with the expansion of glass vial and ampoule 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 and generated 2004 sales of CAD 11 million. It is a qualified supplier to the North American pharmaceutical market. Alcan expects the integration of Interglass to be completed in the 2Q of 2005. Terms of the transaction were not disclosed. Alcan operates worldwide in aluminum and packaging, as well as aluminum recycling. The firm employs 70,000 people and has plants in 55 countries and regions.