gerresheimer acquired a 70 stake in netural glass from the owner family, which has retained 30 of the shares. for the german company, the rapid growth of the pharma sectors in the emerging markets makes having local production operations in india a strategically significant move. &ldquothe indian pharma market is gaining in international significance and it is growing at an impressive rate,&rdquo commented uwe röhrhoff, ceo of gerresheimer ag. &ldquoneutral glass is a leading manufacturer of high quality glass pharmaceutical packaging products which has achieved profitable growth over recent years. our acquisition of a majority shareholding in neutral glass will help us to strengthen our position in the emerging markets and to drive our growth in india.&rdquo based in mumbai, neutral glass has a moulded glass plant in kosamba, gujarat province, with 600 employees, four furnaces and 12 is lines, producing pharmaceutical primary packaging products such as glass vials for liquid medications and infusions, as well as injection bottles. each year, it manufactures about 800 mio. bottles. in the 201011 financial year, neutral glass generated annual revenues of approximately inr 1.0bn around eur 15m. with five plants in south america, seven in china and the new plant in india, as well as representative offices in moscow and mumbai, gerresheimer is well represented in the fastgrowing bric nations brazil, russia, india and china. the company aims to double revenues in the emerging markets from 2010&rsquos eur 100m to eur 200m in 2013.
