Inno Group sells cellophane business in order to develop plastic banknotes!

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Innovia Group, a high-tech film supplier focused on industrial and banknote applications, recently announced that it will sell it to Futamura Chemicals Co., Ltd. (hereinafter referred to as the second village). Cellophane business and assets.

Inno Group believes that the plastic banknote business has huge growth potential

Located in Nagoya, Japan, Ercun Chemical is a leading manufacturer of plastics and cellulosic films, primarily serving the food packaging industry. The transaction is expected to be completed by June 30, 2016.

After the sale of cellophane business, Inno Group will continue to deepen its rapid development of polymer bank note business and continue to strengthen its leading "double bubble" biaxially oriented polypropylene (BOPP) film business. In the field of BOPP film, Inno will continue to focus on and invest in differentiated product development for its core new markets.

It is reported that by the end of 2016, Inno will produce more than 50 billion Guardian plastic banknotes for central banks around the world. Inno has also set up a new factory in Wigton to produce a new polymer banknote substrate for the Bank of England, and will begin issuing a £5 plastic banknote in September 2016 and a £10 plastic banknote in 2017. .

Inno Group CEO Mark Robertshaw said: “The sale of cellophane business is an important strategy of Inno. The second village has been operating the cellophane business for a long time. Its core business is cellulose and plastic film. We will continue to focus on polymer film and banknotes. The business has huge potential for growth in both areas. Our polymer technology can significantly reduce the counterfeiting of banknotes, and the central bank greatly reduces the cost of life of banknotes. We expect global demand for polymer banknotes to continue to rise.

Yasuo Nagae, President of Ercun Chemical, said: “The acquisition of Inno Glass's cellophane business will enhance our product range and sales channels in the global market. With Innolux's original cellophane expertise, we can better serve our important customers. We welcome Inno's cellophane staff joined our family."

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