India’s Hindusthan National Glass & Industries Ltd has decided to sell its German subsidiary HNG Global GmbH, it said in a stock market disclosure.
The company has received its board's approval for the proposal and will seek shareholders' clearance at an extraordinary general meeting on October 24.
It did not disclose any financial details.
HNG Global was founded in 2008 as Agenda Glas and makes container glass mainly for the domestic market. It caters to the beverage and food industry and its facility is located in Gardelegen, Saxony-Anhalt.
Hindusthan National Glass makes glass containers for the pharmaceuticals, beverages, processed foods, cosmetics, and liquor sector and was founded in 1946 by CK Somany.