Düsseldorf based glass and plastic products manufacturer Gerresheimer has announced increases in both revenues and net income in the third quarter of 2013. Revenues were up 1.8% to €316.9m, the result of “rigorous strategic focus on pharmaceutical markets in Europe, North America and the fast growing emerging markets”, according to CEO Uwe Röhrhoff. Meanwhile net income soared 31.8% on the prior year quarter to reach €19m and capital expenditure was reduced to €20.7m from €23.3m in Q3 2012.
Gerresheimer has also announced that from its new financial year, beginning 1 December 2013, it will realign its operating structure to be geared even more closely to market needs. The company will be managed through three divisions: Plastics and Devices, Primary Packaging Glass and Life Science Research. “In realigning our divisions, we are adopting a leaner management structure and focusing our organisation more tightly around customer needs,” added Röhrhoff.
The company projects that the operating and administrative management functions involved will involve costs in the mid-single-digit millions of euros. However, the resulting annual savings are estimated at about 50% of this cost figure.
