ARDAGH GLASS has bought the British glass business of packaging giant Rexam for £50 million (€72m.)

ARDAGH GLASS has reported a 37% slump in pre-tax profits for the first half of the year.

ARDAGH Glass, which has been de-merged from Ardagh Plc, issued its preliminary results for 2003 yesterday.

Ardagh Glass has reported a net debt of €3.08m and continues to trade at a loss after the closure of its Ringsend plant, the company said today.