German technology group Schott and Naigai Glass Industry Company of Japan have founded a joint venture for pharmaceutical packaging activities in Japan, reports confirm.
The new company, Schott Naigai, is based in Osaka, Japan, where Naigai has been operating a production site for many years. The joint venture will produce high-quality vials for the Japanese pharmaceutical industry, mainly from Schott’s tubing glass, ‘Fiolax’.
“The founding of this joint venture in Japan represents yet another important milestone in our global growth strategy for our core business of pharmaceutical pac-kaging,” said Udo Ungeheuer, Chairman of the Board of Management of Schott. “This will allow us to significantly strengthen our market position inside the world’s second largest pharmaceutical market.”
Schott holds 80% of the shares in the joint venture, while Naigai owns 20%. Over the next few years, the new company plans to expand its capacities by adding new production lines.
