INEOS Group successfully completes the divestment of its Global Films Business to Bilcare AG
INEOS Group today confirmed the completion the sale of its global films business to Bilcare AG. The completion of the sale follows the announcement to sell the business, for the sum of €100 million, made on August 2nd, 2010.
The global films business which had 2009 annual sales of €240 million will now become a part of the Bilcare group, a leading international pharmaceutical packaging and research company.
INEOS Films division is a global producer of high quality polymer films built on expertise and innovation. As part of the Bilcare group it will continue to play a major role across international markets for pharmaceutical blister packaging, films for printing and decoration, shrink film for sleeves, capsules and plastic credit cards.
Bilcare AG will now fully integrate the business which had a turnover of around €240 million in 2009 employing around 1300 people across manufacturing sites in Germany, Italy, India and US.
For further information please contact:
Richard Longden INEOS +44 (0) 2380 287037