UCB: Sale of films business

Brussels-based UCB has sold its films business, a leading supplier of BOPP and cellulose films, to a consortium led by former Hays Chemical Distribution managing director Denis Matthewman and Candover Partners in a deal scheduled to close in September. The consortium paid E320m in cash for the business, which turned over E362m last year. UCB’s Films arm, which employs 1,600 people, is part of the group’s Surface Specialities business created following the recent acquisition of Solutia’s resins and additives business.
With plants in the UK at Wigton and Bridgwater as well as in Belgium, the US and Australia, UCB Films is at the forefront of the markets for labels and security films, coated packaging, overwrap and biodegradable and compostable films.

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