BA Glass is to acquire a majority stake in Mexican container glass manufacturer Vidrio Formas.
The Portuguese glass producer said its presence into a new continent will open opportunities.
“With this acquisition, BA Glass strengthens its position in the glass packaging industry, increases its international presence and leverages the industrial and commercial capabilities of the group to develop and enhance Vidrio Formas industrial platform.”
Vidrio Formas is a glass producer and supplier of food and liquor glass containers for the Mexican, North and Central American and Caribbean markets.
It operates two glass plants in Lerma, which is approximately 60km west of Mexico City.
The expansion of its plant 2 facility was completed late last year, which expanded the plant’s capacity to 320t/day.
It meant the company had increased its capacity by 65% in two years. It had a turnover of €125 million in 2022.
Sandra Santos, BA Glass Group CEO, said the acquisition would combine the knowledge and experience of both companies.
“The most relevant assets of any company are its people and customers, and we found many of those in Vidrio Formas."
After the acquisition, BA Glass will have more than €1.8 billion of turnover and €600 million of EBITDA. It will increase its team to 4,800 employees with more than 15 nationalities.
BA Glass is the fourth largest glass packaging producer in the world. It serves the food and beverage markets with 12 plants located in Europe, an annual production of more than 10 billion of glass and jars and sales over €1.5 billion in 2022.
The transaction is expected to be closed before the end of the year.
14.07.2023, Glass International
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.