Anchor Glass Container Corporation Appoints Nipesh Shah as Chief Executive Officer
Seasoned executive brings depth of industry knowledge and management expertise
TAMPA, Fla., July 11, 2017 (Newswire.com) - Anchor Glass Container Corporation ("Anchor Glass"), a leading North American manufacturer of premium glass packaging products, announced today that Nipesh Shah has been named Chief Executive Officer. Mr. Shah will succeed Jim Fredlake, who informed the board of his intention to retire from Anchor Glass. The appointment is effective July 24, 2017, and from that date, Mr. Shah will assume responsibility for the ongoing operations of Anchor Glass and will join the Board of Directors.
Mr. Shah joins Anchor Glass from Consolidated Container Company, where he served as Senior Vice President and General Manager for the Consumer and Industrial Group. Previously, Mr. Shah held a number of senior positions at Momentive Specialty Chemicals Inc. from 2004 to 2014. Mr. Shah had formerly also held management positions at Honeywell, Avery Dennison, and Dover Chemical Corporation. He holds a Master of Science degree from the University of Akron and a Bachelor of Engineering Degree from Maharashtra Institute of Technology.
Thomas Kichler, chairman of the board and partner at CVC, said, "We are extremely grateful for Jim's leadership and his many contributions to Anchor Glass's success over the past decade. Nipesh is an inspired and experienced leader and his broad experiences qualify him to step into this role. He is a well-respected and seasoned executive with a proven track record growing businesses in the packaging industry, and his personal style fits well with the company's core values."
"Anchor has an outstanding track record of success and has built a very strong position in the highly attractive U.S. glass container market, and I am excited to join its talented management team," said Mr. Shah. "I look forward to partnering with CVC, BA Glass and the Anchor Glass leadership team to position the company for long-term growth and success."
Carlos Moreira da Silva, Anchor Glass board member and Non-Executive Chairman of BA Glass, added: "We are delighted to welcome Nipesh to Anchor Glass. His arrival is an endorsement of the strength of Anchor Glass's business, and we are confident his experience and leadership will position us for further growth. We thank Jim for his many years of successful leadership as CEO, during which the company has expanded its position as a leader in the North American glass container industry."
About Anchor Glass
Anchor Glass is a leading North American manufacturer of premium glass packaging products. Anchor Glass has long-standing relationships with blue chip companies across the beer, liquor, food, beverage, ready-to-drink and consumer end-markets. The Company employs approximately 2,000 people and operates six manufacturing facilities located in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma, an engineering and spare parts facility in Illinois and a mold manufacturing facility in Ohio. For more information, please visit www.anchorglass.com.
CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 23 offices and approximately 400 employees throughout Europe, Asia and the U.S. To date, CVC has secured commitments of over US$107 billion from some of the world's leading institutional investors across its private equity and credit strategies. In total, CVC currently manages over US$65 billion of assets. Today, funds managed or advised by CVC are invested in 50 companies worldwide, employing c.310,000 people in numerous countries. Together, these companies have combined annual sales of over US$70 billion. For further information about CVC please visit: www.cvc.com
About BA Glass
Headquartered in Porto (Portugal), BA Glass is a leading European player in the glass packaging industry. In 2016, BA Glass achieved €581 million of sales and €191 million of EBITDA. BA Glass currently operates 12 glass manufacturing plants located in Portugal, Spain, Poland, Germany, Greece, Bulgaria and Romania. It produces 8.7 billion glass containers yearly and employs 3,800 people, after the acquisition of Agenda Glass in 2016, and that of Yioula Glass in early 2017. For further information about BA Glass please visit: www.baglass.com
For general media inquiries, please contact:
Anchor's Communications Department at Communications@AnchorGlass.com
Source: Anchor Glass Container Corporation