Gerresheimer sells tubing glass business for 196 mln eur to Corning

Tuesday, Jun 30, 2015

German drugs packaging firm Gerresheimer said on Tuesday it aimed to sell its tubing glass business to U.S. glass manufacturer Corning for 196 million euros ($219.42 million), in an effort to streamline its business.

Gerresheimer and Corning also plan to set up a joint venture to speed innovation in the pharmaceutical glass packaging market, Gerresheimer said.

Gerresheimer will adjust its 2016-2018 forecasts according to the sale, the group said.

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