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Gerresheimer enjoys ‘good’ third quarter

, Glass International

Gerresheimer kept up its revenue growth in the third quarter of financial year 2015 (December 1, 2014 to November 30, 2015).

“I am pleased with the performance of our business in the third quarter. Revenue growth and earnings are up as expected.

We have now completed the acquisition of Centor in the US. This means that Centor, which leads the US prescription plastic vial retail market for oral drugs, will be integrated into our Group as soon as the fourth quarter,” said Uwe Röhrhoff, Chief Executive Officer of Gerresheimer AG.

Revenues increased by 6.2% to €344.0m.

Business with glass primary packaging went a lot better than in the prior-year quarter.

Following the downtrend of preceding quarters, US revenues in injection vials, ampoules and cartridges turned around and showed strong growth.

Growth in Europe was notably driven by strong cosmetic glass sales.

As announced, the glass plant in Millville, USA, was closed in the third quarter of 2015 and the entire US moulded glass production concentrated in Chicago Heights.

After a furnace repair and enlargement together with infrastructure improvements, operations at the Chicago Heights plants resumed in September as planned.

The lion’s share of capital expenditure was accounted for by glass primary packaging plants and related in the most part to the renewal and enlargement of the Chicago Heights plant.

Gerresheimer has also completed the transaction for the acquisition of Centor, USA, the market leader in plastic packaging for oral prescription medication in the US end consumer market.

For reasons of comparability with the prior year, Gerresheimer’s outlook for 2015 includes neither the Centor acquisition nor the potential closing of the sale of the glass tubing business before the 2015 financial year-end.

, Glass International

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