Plastic fantastic for Gerresheimer in Q2, tubular glass revs dip

By Gareth Macdonald

- Last updated on GMT

Related tags Revenue Plastic

Gerresheimer saw strong demand for plastic systems and moulded glassware in the second quarter fiscal 2011, while tubular glass revenue dipped slightly.

The German packaging firm posted revenue of €284.5m ($397m) for the three months ended May 31, up 5.9 per cent on the year earlier quarter, and net income of €13.3m, up nearly 19 per cent.

Spokesman Jens Kuerten told the gains were driven by strong demand for both moulded glassware and plastic products, with insulin pens and diagnostic systems being top performers.

In addition our latest acquisition Vedat​, a pharmaceutical plastic packaging company in Brazil, supports our growth in plastic systems​,” he added.

Overall for the quarter moulded glass contributed €85.2m, up 4.7 per cent, and plastic systems brought in €98m, up 20 per cent.

This contrasts with Gerresheimer’s tubular glass unit, which saw sale fall 5 per cent to €81.8m. However, this decline was expected and due to infrastructure and maintenance work conducted in the period as Kuerten explained.

The regular furnace overhaul in one of our tubing plants was completed in Q2. During the last quarter we made technical changes in our production lines for prefillable syringe systems in our syringe competence centre in the German plant in Buende.

This was followed by revalidations by our customers. These changes have been implemented. We see our tubular glass division back on track in the second half of the current financial year.

Plastic and Glass

The growth of plastic systems revenue will be particularly gratifying for Gerresheimer given that it has been the focus of considerable investment and expansion efforts of late.

Leaving aside the acquisition of Vedat, Gerresheimer has in the last two weeks unveiled plans to expand its Czech​ plastic systems plant and announced that it is on the look out for an acquisition in the North American plastics sector.

However, while such moves clearly indicate Gerresheimer’s desire to build in plastic systems, they do not mean the firm will neglect its glass packaging business according to Kuerten.

We are very well positioned as a full-service company for both glass and plastic products and solutions for the pharmaceutical and healthcare industry. We are unique with our portfolio which is a crucial success factor for us​."

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