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news.Gerresheimer, a manufacturer of high-quality pharma specialty products, has purchased a majority of 75% stake in Indian company Triveni.
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Triveni manufactures and produces plastic containers and closures for the pharma industry, for which it has received the American FDA’s approval.
Gerresheimer CFO Hans-Jurgen Wiecha said the purchase is well aligned to the company’s strategy of enhancing its footprint in the emerging markets.
"Triveni is a leading and fast growing company with excellent profitability that provides high value for us," Wiecha added.
"Our global expertise combined with the excellent local manufacturing capabilities of Triveni will speed up our growth in the emerging countries."
The remaining 25% of the shares will be retained by the Triveni’s owner, among them the current managing director who will continue to serve in the position.