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Innovia sells off cellophane business to Japanese packaging manufacturer

Innovia sells off cellophane business to Japanese packaging manufacturer, Innovia Group, Futamura Chemicals Co Ltd, Asia packaging, Japan packaging
JAPAN -
Innovia Group is selling its Cellophane business and assets to Futamura Chemicals Co Ltd, a major Japanese plastic and cellulose films manufacturer principally servicing the food packaging industry. 

Innovia explained that this deal with Futamura will enable it to focus on its two other core businesses in biaxially oriented polypropylene (BOPP) films and polymer bank notes.

Particularly in the BOPP business, Innovia says that it intends to continue its focus and investment on differentiated product development for its core and new markets.

The deal is expected to complete on or before 30 June 2016.



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