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Bilcare AG Completes Acquisition Of INEOS' Global Films Biz
(RTTNews) - Bilcare Ltd. said Bilcare AG, part of the Bilcare group, successfully completed all formalities related to the acquisition of the global films business from the INEOS Group.
Bilcare announced its intentions to acquire the business for Rs.607 crore on August 2 this year.
Post completion, the global films business with 2009 annual sales of Rs.1,458 crore will now become a part of the Bilcare group, the company said.
INEOS films division is a leading global producer of high quality polymer films built on expertise and innovation. As part of the Bilcare group it will continue to play a major role in the world of pharmaceutical blister packaging, films for printing and decoration, shrink film for sleeves, capsules and plastic credit cards.
Bilcare AG will now fully integrate the business which had a turnover around 240 million euros in 2009 employing around 1,300 people across manufacturing sites in Germany, Italy, India and the US.
At the BSE, Bilcare shares are currently trading at Rs.545.55, up by 1.19% from the previous close.
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