Certina AG of Munich, Germany has announced its takeover of the glass production plant manufacturer Horn Glasanlagenbau, of Ploessberg, with effect from 1 October.
Certina says the move has secured …
Certina AG of Munich, Germany has announced its takeover of the glass production plant manufacturer Horn Glasanlagenbau, of Ploessberg, with effect from 1 October. Certina says the move has secured the financial future of Horn, a 115-year-old company with a turnover last year of DM 30 million and a staff of 140. The newly named Horn Glass Industries Plc, with DM 5 million in capital and a further DM 3 million in working capital, will continue its activity without any specific obligations, according to Certina. Management of Horn will be overseen by Certina and Mr. Horn Senior will remain with the company in an advisory capacity. The main strategy of the new company will include reorganizing internal operations, expansion through the development of market potential in developing countries, as well as increased investment in research and development projects.