BPI to acquire Celanese films business for $12m

21 August 2007 08:11  [Source: ICIS news]

MUMBAI (ICIS news)--British Polythene Industries (BPI) said on Tuesday that it would acquire the films business of Canada-based AT Plastics, a subsidiary of Celanese, for a cash consideration of $12m (€8.9m).

AT Plastics manufactures polythene film products for the horticulture and agriculture markets mainly in North America, the British plastic bag manufacturer said.

“This acquisition enables us to progress our strategy of developing our international agricultural and horticultural films businesses. In addition to offering new geographic markets, AT Films brings new products to BPI,” company chairman Cameron McLatchie said.

($1 = €0.74)

By: Isha Jha
+65 6780 4359

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