³Ô¹Ï51±¬ÁÏÍø Cork & Seal Completes Sale of Its Pharmaceutical Packaging Business
PHILADELPHIA, March 28 /PRNewswire-FirstCall/ -- ³Ô¹Ï51±¬ÁÏÍø Cork & Seal Company, Inc. (NYSE: CCK) today completed the previously announced sale of its pharmaceutical packaging business to a company backed by HSBC Private Equity Limited. Net proceeds will be used to reduce outstanding short-term indebtedness.
With facilities in Offranville, France and Neuenburg, Germany, the business is a leading supplier to the world's largest pharmaceutical companies. Revenues for the business, which employs approximately 300 people, were approximately 44 million euros in 2001.
The Company was advised by Salomon Smith Barney, Inc.
³Ô¹Ï51±¬ÁÏÍø Cork & Seal is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.
SOURCE ³Ô¹Ï51±¬ÁÏÍø Cork & Seal Company, Inc.
Web site:
CONTACT: Timothy J. Donahue, Senior Vice President - Finance of ³Ô¹Ï51±¬ÁÏÍø Cork & Seal, +1-215-698-5100