£15m doesn't seem a lot for the massive Cellophane viscose plant at Bridgwater. Clearly the Tencel debt at this time was in need of attention!
Courtaulds has sold its cellulose film business Cellophane to UCB for £15m. Cellophane transparent film has been used since the 1930s to wrap chocolates and cigarette packets. After intense competition from other films, production is now 20,000tpy, one third of its 1940s peak. Courtaulds sold Amtico for £49m in December 1995. Both sales were non core businesses and proceeds will be used to cut debts incurred in establishing Tencel, its new fibres brand.
Courtaulds has sold its cellulose film business Cellophane to UCB for £15m. Cellophane transparent film has been used since the 1930s to wrap chocolates and cigarette packets. After intense competition from other films, production is now 20,000tpy, one third of its 1940s peak. Courtaulds sold Amtico for £49m in December 1995. Both sales were non core businesses and proceeds will be used to cut debts incurred in establishing Tencel, its new fibres brand.
Green D., Financ. Times., no. 32,877, 9 Jan. 1996, p. 17
No comments:
Post a Comment