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Gerresheimer has put its €70m technical plastics business, which manufactures automotive components, up for sale.
The German moulder and medical device supplier said the move would enable it to concentrate on its core segments of pharmaceuticals and life science.
The business, acquired through the take over of German moulder Wilden last year, employs 550 people. It has facilities in Germany, the Czech Republic and Mexico as well as Italian and Bulgarian jvs.
The move follows the sale of the company’s consumer healthcare business to the Krallmann group in June.
Gerresheimer ceo, Dr Axel Herberg said: “Through the sale of the technical plastics business we are, as previously announced, continuing our focus on the core business of pharma and life science.”