(Reuters) -London-based investment fund Asset Value Investors has asked German medical packaging maker Gerresheimer to take steps to restore its market value, it said on Thursday. AVI, which holds a 3.5% stake in Gerresheimer, said it believes a new financial leadership is needed to restore the company’s relationship and credibility with investors. It also said […]
Health
UK fund Asset Value Investor calls for changes at Gerresheimer
Audio By Carbonatix
(Reuters) -London-based investment fund Asset Value Investors has asked German medical packaging maker Gerresheimer to take steps to restore its market value, it said on Thursday.
AVI, which holds a 3.5% stake in Gerresheimer, said it believes a new financial leadership is needed to restore the company’s relationship and credibility with investors. It also said Gerresheimer should establish a capital allocation committee and exit its flailing moulded glass business as soon as possible.
Gerresheimer was not immediately available for comment when contacted by Reuters.
(Reporting by Isabel Demetz in Gdansk, editing by Milla Nissi-Prussak)