France-headquartered glassmaker Verescence (formerly SGD) has sold its Brazilian subsidiary Verescence do Brasil to Wheaton Brasil Vidros, the leading producer of high-end glass packaging for the cosmetics, perfume and pharmacy markets in Brazil. Thanks to this acquisition Wheaton consolidates its position in the Brazilian market and becomes one of the world’s leading glass manufacturers for the luxury sector.
The operations of Verescence do Brasil, located in São Paulo’s Água Branca district will be transferred to the Wheaton plant in São Bernardo do Campo, in the southern suburbs of the Brazilian economic capital.
"This transfer has been planned and will not lead to any disruption in the service to our customer," said Wheaton in a release. "Even though we have the capacity to absorb a possible market growth, we have plans to build a new furnace in the next 3 years. We are confident and believe in increasing our sales to the export and domestic markets and in the growth in Brazil," they added.
Wheaton has 4 melting furnaces and 24 production lines, as well as moulds manufacturing capabilities and machines, and a complete structure for bottle decoration.