Bilcare AG to acquire Ineos’ Global Films business for Rs607 crore

Bilcare Ltd. the integrated service provider to the global pharmaceutical industry said today that it has agreed to acquire the polymer business of Global Films from the Ineos Group for Rs607 crore (€100 million).

The deal comprises the business, assets and personnel related to Ineos' Films operations located in North America, Europe, and Asia, which has and has a turnover of around Rs1,458 crore (€240 million).

Ineos Films is made up of four different businesses, cards, packaging, pharma and specialties and is the one of the leading rigid ?lm producers in the world.

Its manufacturing and marketing activity is concentrated in the production of high quality polymer and PVC-PE films and includes the finishing of films in the form of coating, stentering, laminating and metallizing.

It is also involved in the extrusion of PET and PET-PE films. It has over 50 years experience in calendering rigid PVC ?lms. The company employs approximately 1,300 people with sites in Germany, Italy, India and the USA. It has the capacity to produce around 140,000 tonnes of films per annum.

''Bringing together Bilcare's research and development focus with our own broad production and application knowledge provides a very strong strategic fit,'' said Iain Hogan, CEO Ineos Films.

''This acquisition is a paradigm shift in the pharma packaging space & a significant step towards creating a customer centric company to deliver path breaking innovations and establish global leadership,'' said Mohan Bhandari, chairman, of Bilcare.