BOXMORE International, the Northern Ireland packaging group, is negotiating to acquire Glaxo Print Services (GPS), the pharmaceutical printing and packaging subsidiary of Glaxo Wellcome. The purchase is expected to be completed by the end of June.
The consideration being negotiated has not been disclosed but Mr Mark Ennis, Boxmore's deputy managing director, said it would be between £5 million and £10 million cash.
The deal would be financed from the group's internal sources, would be earnings neutral in 1996 and would give a positive boost in 1997, he said. GPS is understood to have been making a loss. It employs 37 people at Greenford, in north London. Sales have not been disclosed.
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