The manufacturer of specialty films was acquired by Candover in 2004. According to Innovia, acquiring Arle means " stay with the same managed by international private equity fund ownership."
David Beeby, Innovia chief executive, said : "We are delighted that we will be partnering again with Arle who have worked closely with us since 2009 They share our vision for the future and will continue to support new investments, both in movies and. security companies forward.
" This transfer of ownership means that Innovia Group has a solid future. This allows the company to maintain its growth plans through our technologies, brands and trademarks".
The Group employs 1,600 people Innovia through two divisions - Innovia Innovia Films and Security. Six manufacturing plants located in Australia, Belgium, Mexico, the UK and the U.S. It operates.
In the UK, Innovia plow £ 40 million investment in Wigton place with £ 20m allocated in turbine state - of- the- art gas and a new "bubble", which will increase your Polypropylene ( BOPP ) out I biorientado 10%.
And packaging, Innovia recently secured an agreement with the Bank of England to produce the new £ 5 and £ 10 polymer banknote substrate.