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Canadian company completes takeover of Wigton-based firm Innovia

Innovia manufactures a film used in the new polymer £5 bank note Credit: PA

Canadian company, CCL Industries, has completed the purchase of Wigton-based firm Innovia Group of Companies (Innovia) for the total of £694million (1.14billion Canadian dollars).

The acquisition was first announced in December.

We are extremely pleased to welcome the employees of the Innovia Group of companies to the CCL family.

– Geoffrey T. Martin, President and Chief Executive Officer of CCL

Innovia employs 1,200 people globally and more than 600 at Wigton, where it manufactures the polypropylene film for used in the new £5 bank note.

CCL Industries employs more than 20,000 people in 35 countries.