Ineos Group is to sell its global films business to Indian pharmaceutical film specialist Bilcare for around 100 million. The business is involved in pharmaceutical blister packaging, films for printing and decoration, shrink film for sleeves, capsules and plastic credit cards and produces rigid PVC, PVC/PE and PET, PET/PE films. The company employs around 1,300 people across manufacturing sites in Germany, Italy, India and North America. It has the capacity to produce around 140,000 tonnes of films annually and had sales of Eur 240 million in 2009.
Ineos says it is selling the business because it is no longer core to the Ineos Group as the company focuses its attention on its large-scale petrochemicals businesses.
Bilcare operates manufacturing and research facilities in India, Singapore, USA and the UK and has regional offices in Brazil, Germany, China and Australia. The acquisition will be through a merger process in Germany, and is expected to be completed at the end of August.
Ineos says it is selling the business because it is no longer core to the Ineos Group as the company focuses its attention on its large-scale petrochemicals businesses.
Bilcare operates manufacturing and research facilities in India, Singapore, USA and the UK and has regional offices in Brazil, Germany, China and Australia. The acquisition will be through a merger process in Germany, and is expected to be completed at the end of August.
