Gerresheimer wants to buy into US plastic packaging sector

By Gareth Macdonald

- Last updated on GMT

Related tags: North america, Us

Gerresheimer is interested in a US acquisition as part of a bid to build in the North American plastic drug packaging sector.

Company CFO Hans-Jurgen Wiecha set out the plan during an interview with Germany’s Borsen-Zeitung​, explaining that Gerresheimer is looking at candidates in the $100m (€69m) to $250m price range.

Spokesman Jens Kuerten confirmed this, telling that: "We are looking into further acquisitions, after the successful acquisition of the pharma plastic systems company Vedat​ in Brazil.

Kuerten added that: “We are already very strong in the pharma glass primary packaging market in the US. So we are focussing on expanding our plastic systems business for the pharma and healthcare customers in North America.

Gerresheimer also operates in the US medical plastic systems market and has a technical centre in Atlanta, Georgia.

The German firm has not said how it would fund any US acquisition.

However in March the firm took out a new loan and issued a corporate bond in May, citing extension of its market position as a key motivation for the move.

At the time Wiecha said that: “The new financing structure provides us with a lot more flexibility.

“We want to achieve further profitable growth, so our focus remains on extending our market position as a successful partner to the pharma industry in both the western world and increasingly in emerging markets​.”

News of Gerresheimer’s US plan comes just days after the firm ramped up its European plastics business.

Last week​ the German firm said it would expand its pharmaceutical packaging plant in the Czech Republic to meet growing demand for insulin pens, lancing devices and diagnostic systems.

The facility n Horsovsky Tyn is also a key training hub for Gerresheimer and played a key role in the development of the insulin pen production facility that Gerresheimer opened in Indaiatuba, Sao Paolo, Brazil last year​.

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