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news.Bosch Packaging Services said that it intends to acquire a minority stake of US-based Industrial Pharmaceutical Resources (IPR).
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IPR is involved in upgrading and manufacturing control and automation products, inspection systems for pharmaceutical equipment such as tablet presses.
Bosch Packaging Services general manager Gary Anderton said working together with IPR, the company expects to have cost synergies and its collective efforts will provide enhanced support to customers in the aftermarket sector.
"Securing a minority share of Industrial Pharmaceutical Resources, Inc., will further strengthen our value chain and will provide a strong addition to our recent acquisition of Manesty Ltd., in the United Kingdom, and Huttlin, based in Schopfheim, Germany," Anderton added.
As per the agreement of both parties, the financial details will be kept confidential.
The transaction is also subject to normal closing conditions including regulatory approvals.
Industrial Pharmaceutical Resources president Joseph Dougherty said, "Combining IPR’s controls knowledge with Bosch’s manufacturing knowledge of Manesty machines will provide further value for our customers, which is an objective that both companies share. "