Linuo Glass to Acquire Controlling Stake in Egyptian Pharmaceutical Packaging Company, Advancing Its Global Expansion

Anuary 17, 2024 - Linuo Glass is making significant strides in its global expansion strategy. The company announced a pivotal move to acquire a controlling stake in The European Ampoules Company (EAC), a leading Egyptian pharmaceutical packaging company.

On January 17, EAC Chairman Michele Gusti and CEO T. Thomas visited Linuo Special Glass to tour its production facilities, which include advanced manufacturing processes for tubular and molded glass bottles. The EAC representatives expressed high regard for Linuo’s achievements over the past 20 years. Following comprehensive discussions, the two parties agreed to deepen their collaboration.

The following day, Linuo Glass released an official statement confirming that it had signed an Investment Framework Agreement with EAC shareholders Michele Gusti, George Philip Fayez, and Gamal Bashir Ishak. The agreement stipulates that Linuo Glass will acquire a 51% stake in EAC through a combination of cash payment and equity transfer.

Linuo Glass, a pioneer in China’s pharmaceutical glass industry, boasts over two decades of expertise in research, production, and sales of pharmaceutical glass. The company is one of the few in the industry capable of producing both medium borosilicate tubular and molded glass bottles. Since its successful listing on the ChiNext board on November 11, 2021, Linuo l Glass has continuously expanded its capacity and solidified its position as a leading pharmaceutical glass manufacturer in China.

Established in 2003, EAC specializes in producing ampoules and small bottles and is the market leader in Egypt's pharmaceutical packaging glass sector. The company's dominance in the local market makes it a strategic partner for Linuo Glass’s international ambitions.

Linuo Glass emphasized that this agreement marks a significant milestone in its global strategy, aimed at enhancing its international market presence. The collaboration is expected to leverage the strengths of both companies, creating synergies and fostering mutual growth. Additionally, this acquisition is anticipated to boost Linuo Glass’s overseas business development, enhance its market competitiveness, and improve its profitability, thereby strengthening the company's resilience against market fluctuations.

This strategic move underscores Linuo Glass’s commitment to expanding its global footprint and becoming a key player in the international pharmaceutical packaging industry.