Comar, Inc. has announced the successful completion of the sale of its glass division to Gerresheimer“s Kimble Glass, Inc. operation on Friday, 30 March 2007. Kimble Glass, Inc. is a manufacturer and…
Comar, Inc. has announced the successful completion of the sale of its glass division to Gerresheimer“s Kimble Glass, Inc. operation on Friday, 30 March 2007. Kimble Glass, Inc. is a manufacturer and marketer of tubular glass products throughout North America. Comar will retain its glass pipette manufacturing capabilities. Kevin Rudd, president of Curtis Financial Group, LLC, a Philadelphia based regional investment banking firm, served as the exclusive financial advisor to Comar in the divestiture transaction. Included in the transaction are the real estate, manufacturing equipment, plant operations and management personnel. The glass pipette manufacturing equipment and associated operating personnel will be moved to the Comar plastic operations in Buena, New Jersey. Assembly of the pipettes into glass dropper assemblies will continue at the Buena facility. Mike Ruggieri, Comar“s General Manager, said: “We are very pleased to turn over the Glass Division to the Kimble Glass Group. We are confident that they will provide the energy and support required to continue to grow the glass business in Vineland”. As part of its corporate strategy, Comar intends to reinvest the capital obtained from the divestiture of the Glass Division in its rapidly growing Pharmaceutical and Healthcare plastics packaging business.