SCHOTT to strengthen its presence in South America
Acquisition of the pharmaceutical packaging business from Medical Glass and DIESCA in Argentina
SCHOTT Pharmaceutical Packaging has strengthened its presence in South America by taking over the business from Medical glass S.A. as well as DIESCA S.A. Effective immediately, both companies will begin trading under the new name SCHOTT Envases Argentina S.A.
The acquisition of the packaging business from Medical Glass S.A. and DIESCA S.A. in Buenos Aires (Argentina) enables SCHOTT Pharmaceutical Packaging to extend its position as a leading supplier to the pharmaceutical industry in South America even further and continue on its path to global growth and quality leadership.
Based in Ramos Mejìa, Buenos Aires, Medical Glass S.A. manufactures ampoules and vials. DIESCA S. A. is also based in Buenos Aires and focuses mainly on producing ampoules.
Both companies will begin trading under the name SCHOTT Envases Argentina S.A. immediately. Furthermore, SCHOTT will be retaining all of their employees.
“In taking this step, we will be gaining access to Argentina as an important growth market,” says Juergen Buhr, Director of SCHOTT Pharmaceutical Packaging in South America. “At the same time, this will open up opportunities for us in other South American markets, as well,” he adds.
According to a study conducted by Espicom Business Intelligence in June of 2008, total sales of pharmaceuticals in South and Central America are estimated to be worth 50 billion U.S. dollars. By 2013, average annual market growth of 9.9 percent is projected. With a 12 percent market share, Argentina is the third largest sales market behind Brazil and Mexico.
Other news from the department business & finance
