Innovia Group has entered an agreement to sell its cellophane business and assets to Nagoya, Japan-based Futamura Chemicals Co.,Ltd, a manufacturer of plastic and cellulose films. The deal is expected to complete on or before June 30, 2016.
“The sale of our cellophane business is an important strategic step for Innovia," says Mark Robertshaw, chief executive of Innovia Group. "Futamura is an excellent long term owner for cellophane, with its core business focussed on cellulose and plastic films.”
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