“Expanding in emerging markets is a key component of our growth strategy. The acquisition of Védat, a technology leader and very profitable company in Brazil, is significantly strengthening our position in the South American pharmaceutical primary packaging market. It perfectly fits our strategy of doubling our sales in the emerging markets from EUR 100 million to EUR 200 million by 2013,” commented Uwe Röhrhoff, CEO of Gerresheimer AG.
Védat has an excellent positioning in the South American market for pharmaceutical plastic packaging. Its product portfolio comprises plastic closures, PET bottles and other plastic containers and the majority of its customers are in the South American pharmaceutical industry. Gerresheimer already manufactures pharmaceutical plastic packaging and medical plastic systems for the South American market at three plants in Brazil and one plant in Argentina.
“Now that we have the combination of bottles and closures, we can provide a fully comprehensive range of products and services to our South American pharmaceutical customers on a one stop shop basis. Védat will help us to take an important step forward as a full-service partner for pharmaceutical plastic packaging in South America,” added Uwe Röhrhoff.
Védat, located in Sao Paolo, Brazil, generated annual sales of BRL 106 million (approximately EUR 45 million) in 2010 and it employs approximately 450 people.