Almost exactly one year ago, Mr Paul Coulson's appointment as chairman of Ardagh was announced as part of a major restructuring of the group's board. His company, Yeoman, owned over 8 per cent of the group and, together with Mercury Asset Management, which owned 29 per cent, they were pushing for a new direction for the Irish glass group. The bold move to acquire Rockware is the result and will make the Irish company part of the largest group serving the UK and Irish markets, as opposed to leaving it reliant on an increasingly competitive home market.

Mr Coulson is non-executive chairman, leading a board which also included other new appointees put in place last year to try to transform the company's tag as a perennial underperformer on the market.

These included stockbroker Mr Brendan Dowling, accountant Mr Bernard Somers, and former broker Mr Ray French - the Mercury Asset Management nominee. Managing director Mr Eddie Kilty remained at the executive helm.

Together, they have decided that the Rockware buy from Owens Illinois is the only alternative to selling Ardagh off to an international player. Constrained by a dominant share in its home market and new competition from Mr Sean Quinn's glass plant, Ardagh - merged with Rockware - now hopes to prosper by serving the base of multinational companies in the UK and Ireland.

Rockware already has a strong client list, including the British production of the likes of SmithKline Beecham, Lucozade, Scottish Courage and Coca-Cola Schweppes Beverages.

The question now is whether the management can make the merger of its operations with Ardagh into a business worth more than the sum of its two existing parts.