Acquisition of Stera Tape

RNS Number : 5486W

Filtrona plc

22 November 2010

 



22 November 2010

Filtrona plc

Acquisition of Stera Tape

Acquisition of Stera Tape

Filtrona plc ('Filtrona') announces completion of the acquisition of the entire issued share capital of Stera Holdings Limited, trading as Stera Tape, from family and employee shareholders of the acquired company.

Stera Tape, based in Bridlington, UK, is a manufacturer of high quality speciality adhesive tapes and is highly complementary to Duraco, a business within Filtrona's Protection & Finishing Products division.  Gross assets acquired are approximately £2.6m.

Commenting on the acquisition, Mark Harper, Chief Executive of Filtrona, said:

"The acquisition of Stera Tape is an excellent addition to Duraco, the speciality adhesive tapes business acquired in 2007.  Stera Tape has a strong reputation for producing high quality double sided transfer and tissue tapes and these products will significantly enhance Duraco's product offering both in the US and Europe.

This acquisition demonstrates Filtrona's commitment to build on its strong market positions and leverage its commercial model and global infrastructure to achieve growth. 

We welcome Stera Tape's  employees to Filtrona"

Enquiries

Mark Harper, Chief Executive

Steve Crummett, Group Finance Director

Tel: [phone]

 

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