CANADIAN FIRM TO BUY POLYMER NOTE FIRM INNOVIA

Canadian label and packaging maker CCL Industries Inc said it would buy Innovia Group, which supplies the new UK plastic five pound note that has fallen foul of vegetarians, for aroundC$1.13 billion ($842 million).

The acquisition of UK-based Innovia is expected to make CCL the world leader in the fast-growing polymer banknote market. Britain is one of the largest economies to adopt plastic banknotes andthey are already in circulation in Canada, Mexico, New Zealand and Australia.

But the new five pound note, made of a thin and flexible plastic designed to be cleaner and harder to forge, has fallen foul of thousands of people who object to the use of animal fats in theirmanufacture.

The deal is the latest in a string of takeovers of British companies by foreign firms that have taken advantage of the sharp fall in the sterling since Britain voted to leave the EuropeanUnion.

To read the complete article, see:

Canada's CCL to buy British bank note maker Innovia for $842 mln(www.dailymail.co.uk/wires/reuters/article-4049872/Canadas-CCL-buy-UK-based-Innovia-842-mln.html)

To read the earlier E-Sylum articles, see:

NEW POLYMER NOTES CONTAIN ANIMAL FAT (www.coinbooks.org/esylum_v19n49a29.html)
MORE ON ANIMAL FAT IN THE POLYMER BANKNOTES (www.coinbooks.org/esylum_v19n50a34.html)