Acquisition of Majority Stake in Pacificglas by Verescence
glassglobal Community
glassglobal
, VERESCENCEAcquisition of Majority Stake in Pacificglas by Verescence
VERESCENCE ANNOUNCES THE ACQUISITION OF A MAJORITY STAKE IN PACIFICGLAS (SOUTH KOREA)
Verescence, the global leader in luxury glass packaging for the Perfumery and Cosmetics industries, today announces the acquisition of a majority stake in Pacificglas, the Korean leader for glass packaging in Cosmetics industries and a long-term partnership with Amorepacific.
For over 120 years, Verescence has been a privileged partner to the biggest perfume and cosmetics brands due to its extensive know-how and expertise. Verescence produces 500 million bottles per year in its three glass production sites and its four decoration sites in Europe and North America. In 2019, the company employed 2,300 people worldwide and achieved sales revenue of 309 million euros.
Thomas Riou, CEO of Verescence said:
"We are delighted with the acquisition of a majority stake in Pacificglas and the long-term partnership with Amorepacific. This is a major step in our Strategic Plan, Verescence 2022. Amorepacific will become a top customer of Verescence group and with Pacificglas, Verescence will reinforce its leadership in high-end Perfumery & Cosmetic glass packaging. From this strong base Verescence plans to become a pan-Asian leader and will invest in technology and capacity to meet growing demand of high-end glass."
News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.
Updated worldwide glass market study 2024 available now for flat, container glass and tableware
We have updated our international
studies on flat glass, container glass and tableware for 2024.
This unique software provides a global overview about glass producers and
technical details. Easy to use and clear tables summarize information
and data about glass makers such as:
Glass types: flat glass, container glass, tableware,
production capacities in regions and countries,
number of furnaces, furnace types, year of construction,
glass types and sub-types, products,
project information, special news and downloads.
Further databases supplying demoscopic data and import and export data
complete the market survey. Based on these data, prepare individual
country profiles with information about local production capacities,
local market sizes and expected demand in the future.
