German company, Gerresheimer AG, has acquired 75 per cent shareholding position in the Indian company Triveni to further accelerate its growth in the emerging markets. Triveni is a leading manufacturer of plastic containers and closures for the pharma industry with a strong track record of more than a decade production of regulated pharma packaging.

Closing of the acquisition is expected still in December 2012.

The Triveni owners retain 25 per cent of the shares, among them the current managing director Subodh Gupta who will continue to serve in this position.

“This acquisition is well aligned to our strategy of enhancing our footprint in the emerging markets. Triveni is a leading and fast growing company with excellent profitability that provides high value for us. Our global expertise combined with the excellent local manufacturing capabilities of Triveni will speed up our growth in the emerging countries,” commented Hans-Jürgen Wiecha, CFO of Gerresheimer AG.

Subodh Gupta, managing director of Triveni, explains, “Triveni special product portfolio ideally complements Gerresheimer’s plastic packaging range and will enable us to better support our customers in their business.”

Triveni Polymers is a leading producer of pharmaceutical plastic packaging in India with more than 300 employees with office in New Delhi and with a plant in the nearby city of Kundli (Haryana Province, India).

In April 2012 Gerresheimer took over Neutral Glass, a leading Indian manufacturer of pharmaceutical glass packaging products. With five plants in South America, six in China and now two plants in India, as well as a representative office in Moscow, Gerresheimer is well represented in the fast-growing emerging countries. Gerresheimer’s declared objective is to double revenues in the emerging markets from EUR 100m in 2010 to EUR 200m in 2013. In the financial year 2011 Gerresheimer achieved revenues of about EUR 140m in the emerging markets.

Gerresheimer is an internationally leading manufacturer of high-quality specialty products made of glass and plastic for the global pharma and healthcare industry.