Futamura to acquire Innovia’s cellophane business

Japanese food packaging films maker expands

Innovia’s Cellophane business continues at the existing Wigton, UK plant, run by Futamura
Innovia’s Cellophane business continues at the existing Wigton, UK plant, run by Futamura

UK-based producer of high-tech film products Innovia Group is seling its Cellophane business unit to Futamura Chemicals Co., major Japanese manufacturer of plastics and cellulose films for the food packaging industry in a deal due to complete in June.

Innovia has decided to focus on the polymer bank note business. The firm says that by the end of 2016 it will have manufactured more than 50 billion banknotes for central banks around the world. A plant recently built on the Wigton site will produce a new polymer banknote substrate, under the Guardian trademark, for the Bank of England beginning with a £5 note due to be issued in September 2016 and a £10 note in 2017.
Futamura is rated second in the world in terms of market share in cellulose films, which are made from plant-derived materials such as wood, with sales of 67.1 billion Yen (approximately US$ 631 million or Rs. 4,200 crore) in fiscal year 2014. Company president Yasuo Nagae sees the acquisition enhancing its global presence and says, “It supports our ambition to serve our key customers through local manufacturing facilities offering the highest standards of delivery by experienced personnel. We look forward to welcoming Innovia’s Cello employees into our family.” The Innovia Cellophane business serving the food packaging, confectionery and twist wrap sectors had 2015 revenues of € 118 million (approximately Rs. 850 crore).

Packaging South Asia is the cooperating media partner for drupa 2016 which is scheduled to be held from 31 May to 10 June at Dusseldorf, Germany.

The impact, resilience, and growth of responsible packaging in a wide region are daily chronicled by Packaging South Asia.

A multi-channel B2B publication and digital platform such as Packaging South Asia.is always aware of the prospect of new beginnings and renewal. Its 16-year-old print monthly, based in New Delhi, India has demonstrated its commitment to progress and growth. The Indian and Asian packaging industries have shown resilience in the face of ongoing challenges over the past three years.

As we present our publishing plan for 2023, India’s real GDP growth for the financial year ending 31 March 2023 will reach 6.3%. Packaging industry growth has exceeded GDP growth even when allowing for inflation in the past three years.

The capacity for flexible film manufacturing in India increased by 33% over the past three years. With orders in place, we expect another 33% capacity addition from 2023 to 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels have grown similarly. The numbers are positive for most of the economies in the region – our platform increasingly reaches and influences these.

Even given the disruptions of supply chains, raw material prices, and the challenge of responsible and sustainable packaging, packaging in all its creative forms and purposes has significant headroom to grow in India and Asia. Our context and coverage engulf the entire packaging supply chain – from concept to shelf and further – to waste collection and recycling. We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers.

In an admittedly fragmented and textured terrain, this is the right time to plan your participation and marketing support communication – in our impactful and highly targeted business platform. Tell us what you need. Speak and write to our editorial and advertising teams! For advertisement ads1@ippgroup.in , for editorial info@ippgroup.in and for subscriptions subscription@ippgroup.in

– Naresh Khanna

Subscribe Now