North America’s CCL industry will pay $1.13B for British rival Innovia.

Canada’s, Toronto-based CCL bids $1.13 billion to buy its British polymer-banknote rival Innovia to become one of the world’s biggest makers of polymer banknotes.
Through this, it would add Innovia’s projected $570 million in income into CCL’s, which is expected to be in surplus of $5 billion next year, the company announced on Tuesday this friendly deal.

Innovia in different countries including the UK, Australia and Mexico which makes the kind of polymer banknotes other countries use as well as Canada.
Such banknotes last longer and are more secure than conventional paper bills.
“This transaction is another transformative acquisition for CCL, propelling the company to world leadership in the disruptive, fast growing polymer banknote market,” CCL president Geoffrey Martin said.


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