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Bilcare AG to Acquire INEOS' Global Films Business for EUR100 Million
Date:8/2/2010

f high quality polymer films built on expertise and innovation. The company plays a major role in the world of pharmaceutical blister packaging, films for printing and decoration, shrink film for sleeves, capsules and plastic credit cards. The company employs around 1300 people across manufacturing sites in Germany, Italy, India and North America and has a turnover of around EUR240 million.

Mohan Bhandari, Chairman, Bilcare Limited, said, "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."

The newly appointed Executive Chairman of Bilcare AG, Dr. Heinz Gaertner said, "This transaction presents a unique opportunity and enhances our offer to apply our innovation led approach to a broad range of industries, currently served by INEOS Films, particularly in Europe and USA."

The transaction inter alia, is proposed to be effected through a merger process in Germany, in relation to the German company and its subsidiaries. The transaction is expected to be completed at the end of August, subject to necessary regulatory filings and approvals, including German Court and approvals under applicable antitrust laws and regulations.

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