Treofan to develop operations in Europe

Italian investment company M&C, the owner of Treofan Holdings, is to use the proceeds from the sale of the American business to CCL Industries to make strategic investments to Treofan’s operations in Europe.

Treofan CEO Dr WAlter Bickel

As previously reported, CCL Industries has signed a binding agreement to acquire the Treofan Americas business from M&C.

The acquired Treofan entities will trade under the Innovia brand name post close with M&C retaining rights to the Treofan name.

Dr Walter Bickel, Treofan CEO, commented: ‘We will use the proceeds from the sale to deleverage the company and to further develop our production sites in Europe, thus driving our strategy for profitable growth.

‘We will advance our product portfolio into speciality films and also strengthen our research and development in this area.’