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Summary: Gerresheimer AG Nov 09 Product Image

Summary: Gerresheimer AG Nov 09

  • ID: 1793822
  • November 2009
  • Standard & Poors

Abstract
The ratings on Germany-based specialty packaging supplier Gerresheimer AG and its fully owned subsidiary Gerresheimer Holdings GmbH reflects our view of its "satisfactory" business risk profile and "significant" financial risk profile. The key risk factors include the company's appetite for debt-financed acquisitions and limited excess cash flows, mainly resulting from high capital spending. Gerresheimer benefits, however, from its leading positions in largely consolidated and normally recession-resistant underlying markets for more than three-quarters of its revenues. Barriers to entry are high due to demanding regulatory requirements as well as strong relationships and cooperation between suppliers and customers. As a manufacturer of a broad range of products mainly for the pharmaceutical and life-science industries, the company is well diversified geographically and by...

Companies mentioned in this report are: Gerresheimer AG
Action: Review

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