UK-based Rexam is to buy Plastic Omnium Medical, the French pharmaceutical packaging business, for 32.5m Euros, including borrowings assumed with the business.
Plastic Omnium Medical has one factory based in La Verpilliere, south of Lyon in France, where it employs approximately 170 people.
The business serves a number of European plastic pharmaceutical packaging market segments, including drug delivery devices and inhalers.
It is one of the main suppliers of the multidose dry powder inhaler to GlaxoSmithKline, a product that is also supplied by Rexam.
In 2003, Plastic Omnium Medical had sales of 26m Euros. As of December 31 2003, its net operating assets were 16m Euros.