GLYNWED BUYS GALLAHER UNITS FOR AROUND 14 MLN STG Glynwed International Plc <GLYN.L> said it had bought all the issued shares of two companies belonging to Gallaher Ltd, a subsidiary of American Brands Inc <AMB>, in a deal worth around 14 mln stg. The full names of the companies purchased from Gallaher are <Formatura Iniezione Polimeri Spa>, Genoa and <FIP U.K. Ltd>, Weybridge. Consideration for the purchases, which will be based on the net asset values per share of the companies, has yet to be finalised but some nine mln stg of the total represents debt assumed by Glynwed. FIP is a manufacturer of valves and other pressure pipe fittings in thermoplastics. Its products are complementary to those of Glynwed subsidiaries, Durapipe U.K. And Philmac. The acquisitions appreciably develop and strengthen Glynwed's strategic position in the thermoplastic pipework systems market. The sale by Gallaher reflects a decision to dispose of more peripheral businesses. Proceeds of the sale will be used in the continuing expansion of the Gallaher group. Glynwed shares were up 5p to 494 after the announcement. Gallaher is not quoted on the London Stock Exchange.