The Swedish bottle and can producer PLM AB said last week that it had reached an agreement to acquire 25% of shares in Danish glass and plastic packaging manufacturer Holmegaard Emballage A/S. PLM wil…
The Swedish bottle and can producer PLM AB said last week that it had reached an agreement to acquire 25% of shares in Danish glass and plastic packaging manufacturer Holmegaard Emballage A/S. PLM will also receive an option to buy the remaining shares at a later stage, PLM said in a statement. PLM will acquire the shares from glassmaker Royal Copenhagen A/S, which currently owns all of Holmegaard Emballage. Holmegaard reported sales of DKr 710 million in the 1995/1996 financial year and a pre-tax profit of DKr 60 million. The company includes glass packaging group Holmegaard Glasvaerk and two subsidiaries, plastics operations Holmia A/S and glass recycling company Dansk Flaskegenbrug A/S. “PLM“s engagement in Holmegaard Emballage A/S creates possibilities for an industrial cooperation which in the long term will give significant production advantages and synergies for parties concerned,” the company said. PLM did not disclose any purchase price and said it was awaiting approval from the competent authorities.