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Varova and TGI Group acquire Philips Electronics glass manufacturing site in Chalon-sur-Saone

Post Time:Dec 18,2012Classify:Industry NewsView:79

Philips Lighting, part of Royal Philips Electronics N.V. has decided to sell its glass-manufacturing site in Chalon-sur-Saone to Varova from the Netherlands and German TGI Group per December 3rd, 2012. The site will operate under its new name TGI TUBES SAS. The site, which currently manufactures soda-lime glass tubes fro Philips, will be transformed by TGI Tubes to manufacture and sell borosilicate glass tubes and capillaries for medical, pharmaceutical and solar applications.

The expertise and track record of the TGI Group, the extensive knowledge of glass manufacturing build over the course of 60 years in Chalon and Varova’s track record in successfully establishing and building stand-alone companies out of corporate divestments, are a solid bases for a healthy long-term future at the Chalon site.

An extensive investment and construction program has been initiated to realize a rapid transformation of the furnace and manufacturing environment in order to be able to produce high quality borosilicate glass tubes. The TGI Group will leverage its experienced sales operation in order to sell the Chalon manufactured tubes and capillaries into its global customer base.

Felix Zwaryszczuk, the site’s general manager says: “I truly believe this transaction will create a credible and viable long term business perspective for the Chalon glass manufacturing operation. The market for borosilicate glass is highly attractive and has a very healthy long term outlook. Moreover, it will not only preserve but also create new jobs on site, as significant investment will be made in terms of people, capabilities and technologies.”

Varova is a Dutch-based hands-on investment company that creates value through acquisition and active management of medium sized companies with annual revenues in the range of EUR 5 to 150 Million. Focusing on organizations that require a strategic, commercial, operational and/or financial impulse, Varova gets actively involved in its portfolio companies to establish sustainable business leadership and realize profitable growth.

TGI Group is a specialty glass manufacturer with over a century of experience, dedicated to serve its customers throughout the world. TGI Group has a wide product range of borosilicate and specialty glass products and is proud to supply customers that are engaged in mechanical and plant engineering, chemical and electrical engineering, pharmaceuticals industry, medical technology, lighting and household.

For more information or a request for an interview please contact:

Patrick van Rossum (pvanrossum@varova.nl, +31622469100), or Hartmut Kainer (kainer@tgi-glas.net, +4936776650)

Source: http://www.glassonweb.com/news/index/17941/Author: