API: New owner for Filmcast Extrusions

API Group is to sell its Converted Products division, including its polypropylene film businesses, to a new management team for £12.2m (E17.3m). Nigel Trilk and Martin Urquhart, supported by GE Commercial Finance, will take over the three-leg business that includes Filmcast Extrusions, a manufacturer of mono and co-extruded PP packaging for markets such as food, medical, textile and magazines. The other two businesses specialise in the coating of film and paper with either adhesive or silicon. In total the division has 250 employees. Filmcast, based in Nelson, Lancashire, employs 70 people and has annual sales of around £5m (E7.5m).

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