Glass Industry News

Piramal Glass renamed to PGP Glass

, Piramal Glass

Indian container glass manufacturer Piramal Glass has been renamed as PGP Glass as part of its takeover by Blackstone financial group.

Blackstone acquired the company from the Piramal Group for a valuation of $1 billion in late 2020—the largest ever transaction for a packaging company in India.

The deal was completed on March 31 and the company, whose near 4,000 staff has been retained, will now have a new name—PGP Glass.

The company manufactures glass packaging for pharmaceutical, cosmetics, perfumery, and specialty food and beverage.

Globally, every second nail polish bottle has been made by Piramal Glass. With four manufacturing facilities—one in Missouri, USA; one in Horana, Sri Lanka, and two in Kosamba and Jambusar in Gujarat—80% of its revenues come through exports.

Piramal Glass currently produces 1,475 tonnes per day, at 12 furnaces for 65 production lines. Its clients include global companies such as Coty, L’Oréal, Diageo, Pernod Ricard and Sanofi.

It is one of the few players, globally, using the type-1 glass vials and infusion bottles suitable for complex pharmaceutical products such as liquid injectable and oncology drugs.

Despite the pandemic, the business of high-end glass packaging grew in pockets. The cosmetics and perfumery segment saw a 20% dip in demand but the nail polish segment picked up quickly as some Western economies opened up last winter.

“The change to ownership to Blackstone is a positive development, as we will now finally be able to fulfil its vision of global leadership in the chosen segments of premium perfumery and cosmetics and specialty spirits,” Vijay Shah, a director on the board of PGP Glass, told Forbes India.

Shah—who led Piramal Glass for decades—will continue to be in control of daily operations of the new company.

Shah said growth will be explored through acquisitions and organic growth options. “This will be planned for within the next three to five years,” he added.

Under the new owner, the plan for expansion into new product lines such as food jars and premium water bottles is being finalised.

A blueprint is also being created to help gain market share across Europe, particularly in high-end cosmetic and perfumery and speciality spirits, where Piramal Glass does not have a manufacturing unit.

In the pharmaceutical space, the increase in regular vaccines and injections has seen the demand for tubular glass vials go up.

, © Piramal Glass

此网站新闻材料的版权属于公司或第三方的新闻提供者,其所有权利保留。所有新闻材料对其访问者只能限于其本人使用,并且使用此材料的风险由其使用者独自自行承担。严禁对新闻材料进行再次发布和其它商业利用. 作为商业贸易的用途。如果新闻材料由第三方提供,当应用此新闻材料时,每个使用者都同意遵守,并且受此特定的项目的约束。Glass Global并不代表及认可新闻材料中所包含的内容及新闻中的外部网站的内容的准确性及可靠性。

Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.



Info Grid

Glass studies

Updated worldwide glass study 2024

plants.glassglobal.com

Updated hollow glass study 2024

Request more information

Updated float glass study 2024

Request more information

Further glass market studies

Request more information

公司简介



Updated worldwide glass market study 2024 available now for flat, container glass and tableware

We have updated our international studies on flat glass, container glass and tableware for 2024.

This unique software provides a global overview about glass producers and technical details. Easy to use and clear tables summarize information and data about glass makers such as: Glass types: flat glass, container glass, tableware, production capacities in regions and countries, number of furnaces, furnace types, year of construction, glass types and sub-types, products, project information, special news and downloads.

Further databases supplying demoscopic data and import and export data complete the market survey. Based on these data, prepare individual country profiles with information about local production capacities, local market sizes and expected demand in the future.

Request your offer via plants.glassglobal.com.

Updated container glass study 2024

X

Updated float glass study 2024

X

Further glass studies and reports 2024

X