FDBusiness.com

Innovia Group sale of Cellophane™ and strategic focus on polymer banknotes and films

 Breaking News
  • Pernod Ricard to Acquire Super-premium Italian Gin Brand Pernod Ricard is acquiring Italian super-premium gin brand Malfy from Biggar & Leith for an undisclosed price. Malfy is a range of super-premium gins distilled by the Vergnano family in the Italian region of Moncalieri, and already present in several international markets such as the United States, United Kingdom and Germany. Each gin in the [...]...
  • Nestlé and Carrefour Give Consumers Access to Blockchain Platform Nestlé and Carrefour, the French retail group, have announced that they are giving consumers access to blockchain data for Mousline purée in France. This is the first time that Nestlé is sharing information on its products with consumers via a blockchain platform. Consumers can use their smartphone or other device to scan a QR code on [...]...
  • Plastics Action Alliance Sets Targets to Achieve Sustainable Reduction in Use of Plastic in Ireland Plastics Action Alliance, the recently formed group that comprises of 11 leading agricultural processing and food businesses in Ireland, has set out its key objectives. The industry leading group aims to significantly reducing the use of plastic packaging across its members’ operations. Formed at the end of 2018, the Plastics Action Alliance is a collaboration that [...]...
  • Carlsberg UK Gets Honest About Its Beer Carlsberg UK has launched its most ambitious and honest consumer facing campaign ever in a bid to drive reappraisal of its flagship beer brand. Expected to reach 97% of the UK, the £20 million campaign conceived in collaboration with agency partners Fold7, Clifford French and Initiative – trades on the equity of the brand’s renowned [...]...
  • Alternative Proteins Challenge Dairy Dominance The value of the sports nutrition market is set to grow by around 8% per year to reach over US$17 billion globally in 2021, according to Innova Market Insights’ forecasts. The mainstreaming of the market has led to a surge in interest in plant-based alternatives with the traditional dominance of whey and other dairy proteins [...]...

Innovia Group sale of Cellophane™ and strategic focus on polymer banknotes and films

April 11
10:53 2016

Cellophane™Innovia Group, the global leader in high-tech film products for industrial applications and banknotes, today announces an agreement to sell its Cellophane business and assets to Futamura Chemicals Co., Ltd.

The deal is expected to complete on or before 30 June, 2016. Based in Nagoya, Japan, Futamura is a leading manufacturer of plastic and cellulose films, principally servicing the food packaging industry.

Following the sale, Innovia will continue to deepen its focus on its fast-growing and world-leading polymer bank note business and on building on its market leading and differentiated ‘double bubble’ biaxially oriented polypropylene (BOPP) films business. In the BOPP business, Innovia will continue its focus and investment on differentiated product development for its core and new markets.

Innovia is well established as the world’s leading provider of technologically advanced polymer banknote substrate and by the end of 2016 will have manufactured more than 50 billion Guardian® banknotes for central banks around the world. From its new facility in Wigton, Innovia will be manufacturing the new polymer banknote substrate for the Bank of England beginning with the £5 note due to be issued in September 2016 and the new £10 note in 2017.

Mark Robertshaw, Chief Executive of Innovia Group, said: “The sale of our Cellophane business is an important strategic step for Innovia. Futamura is an excellent long term owner for Cellophane, with its core business focussed on cellulose and plastic films. In line with our strategy, we will continue to focus on building our polymer films and banknote business where we see significant growth potential. In particular, the benefits of our polymer technology for banknotes have proven to reduce counterfeiting levels significantly and to reduce substantially the lifetime costs to central banks which we expect will continue to drive long term demand for polymer banknotes across the globe.”

Yasuo Nagae, President of Futamura Chemical Co., Ltd, said: “The acquisition of the Innovia’s Cellophane business will enhance our product range and presence across the globe. It supports our ambition to serve our key customers through local manufacturing facilities offering the highest standards of delivery by experienced personnel. We look forward to welcoming Innovia’s Cello employees into our family.”

Innovia Group is the global leader in high-tech film products for packaging and industrial applications and banknotes. Headquartered in Wigton, UK, the Group had 2015 revenues of €509m and employs approximately 1,600 people.

About Author

admin

admin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
  • June 25, 2019BevExpo 2019
AEC v1.0.4

Jobs: Food Packaging

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements