German pharmaceutical manufacturer Gerresheimer reported increased revenues of 6.3% in the second quarter of this year, despite a drop in glass sales.
It reported growth in medical and pharmaceutical plastic products but said although business with its glass pharmaceutical primary packaging recovered as the year progressed, it still remained slightly down on the prior-year quarter.
It also reported that revenues in its laboratory glassware business were slightly up.
Gerreshemier CEO Uwe Röhrhoff said: “Our business did well in the second quarter, too. We achieved healthy growth in both revenues and earnings. We continue to deliver our growth strategy. We will continue to achieve profitable growth as we are well positioned worldwide and reap the benefits of long-term megatrends in healthcare.”
Revenues increased by 6.3% to €356.4 million.
Gerresheimer will close its glass plant in Millville, USA, in the third quarter of this year. Its entire moulded glass production will be consolidated to its Chicago Heights, USA plant, which in turn will undergo expansion and infrastructure improvement in the course of a forthcoming furnace overhaul.
It said product quality would be enhanced as a result.
It added that most of its capital expenditure in the second quarter of 2015 was accounted for by primary packaging glass plants. The focus remained on capital expenditure on vial and cartridge machinery as well as on routine furnace overhauls.
In its outlook it said that, assuming the sale of its tubing glass business to Corning Incorporated is completed by the end of 2015, it expects revenue growth of 1 to 3% for the financial year 2015.