Innovia focuses on BOPP growth following sale of cellulose film business

Innovia says it is driving forward its growth strategy for its biaxially oriented polypropylene (BOPP) films business, following the sale of its cellulose film division earlier this year.

The company says it is concentrating its efforts into high performance, advanced polymer solutions across primary global markets such as labels, packaging, tobacco and security films.

“Separating a business that has grown over 80 plus years is a challenge in itself,” explained Joe Piccione, Managing Director of Innovia Films.

“Achieving that in such a short time frame is commendable to all those involved in the process. We are exceptionally pleased with the outcome for our cellulose film employees and customers.”

Decision to sell

The Innovia Group announced its decision to sell its cellulose film business and assets to Japan’s Futamura Chemicals Co., Ltd, in April this year.

Innovia’s Chief Executive, Mark Robertshaw, said at the time that the sale was an “important strategic step” for the Group and that Futamura, a leading manufacturer of plastic and cellulose films principally servicing the food packaging industry, was an “excellent long-term owner.”

Some of Innovia’s shared staff have transitioned to the new owners as part of the restructuring process around the sale.

Looking forward

With its focus on growth going forward, Innovia says it will be “looking closely” at how it can build upon its manufacturing capabilities and maximise its R&D and technical expertise.  

“This will be done to continuously deliver new and exciting product solutions to our existing and new customers. Having divested of our cellulose film business provides us clear focus on strategically growing our BOPP business,” Piccione explained.