Gerresheimer reveals 87m investment

The announcement follows the publication of the company's first quarter results for 2008, which reported sales for the first quarter had increased by 18.2% to €239.1m on last year.

Adjusted earnings (before income taxes, financial result, depreciation and amortization, restructuring expenses and one-off income and expenses) for the same period increased from €35.7m to €43m in 2008.

Düsseldorf-based Gerresheimer attributed increased demand for pharmaceutical products on the aging population and increased access to medical care in emerging markets.

Meanwhile, demand for glass cosmetics packaging has continued thanks in part to increased popularity of wellness products, such as skincare and anti-aging products.

EBITDA for the plastics division rose from €4.4m to €14.1m, aided by the transfer of plastic packaging production from Germany to Poland last year.

In January the company expanded its medical plastics business with the acquisition of the Spanish producer of PET pharmaceutical packaging, EDP.

At the same time, Gerresheimer signed the purchase agreement for the acquisition of Brazilian pharmaceutical plastic packaging company, Allplas Embalagens.

The Gerresheimer group employs 10,656 across operations in Europe, China and America, including Mexico, Brazil and Argentina.

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