Innovia Films Acquisition Complete
Date: 1 October 2004
Innovia Films has been selected as the new name for the former films business of the UCB Group.The €320m acquisition of the company by a consortium led by the former Managing Director of Hays Chemical Distribution, Dennis Matthewman and Candover Partners Ltd has now been completed.
Previously called UCB Films, the company is a leading global producer of speciality Biaxially Oriented Polypropylene (BOPP) and cellulose films with production sites in the UK, USA, Belgium and Australia.
Innovia Films holds a leading global position in the markets for labels and security films, coated packaging, overwrap and biodegradable and compostable films, employing some 1,600 people worldwide. Brands include Propafilm™, Cellophane™, Rayoface™, Rayoart™ and Guardian®.
Chairman, Dennis Matthewman says: “This is one of only a handful of genuinely innovative companies in the films industry today. As far as cellulose and BOPP films are concerned we have the largest Research and Development facilities in Europe and we intend to fully exploit the experience and expertise which exists within the business to increase operations worldwide.”
