A struggling, 110-year-old glass manufacturer that employs 300 will remain open in Baltimore after the Abell Foundation made an undisclosed investment to save it.
The Carr-Lowrey Glass Co., which makes glass containers for cosmetics and perfumes at a plant at 2201 Kloman St., had been searching for a buyer for months before the Abell Foundation stepped in, said K. Wayne Long, vice chairman of the company's board.
"I'm very optimistic that Carr-Lowrey will regain its former position in the industry," said Robert C. Embry Jr., Abell's president.
Carr-Lowrey was bought by Thomas Schmidheiny, the Swiss owner of cement manufacturer Holderbank Financiere Glaris AG, in 1989. Since then, Carr-Lowrey has been hampered by an inefficient, low-quality manufacturing process, Embry said.
The deal was completed last month, and Abell immediately made changes to the management team, Embry said. Abell retained Thiery Bernard as Carr-Lowrey's chief executive officer.
Pub Date: 1/16/99