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Anchor Glass Container Corporation Appoints CEO

Anchor Glass Container Corporation Appoints Nipesh Shah as Chief Executive Officer

Seasoned executive brings depth of industry knowledge and management expertise

Anchor Glass Container Corporation ("Anchor Glass"), a leading North American manufacturer of premium glass packaging products, announced recently 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. Mr. Shah assumed responsibility for the ongoing operations of Anchor Glass and joined the Board of Directors last month.

Mr. Shah came to 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 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."

For more information, please visit www.anchorglass.com.

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