The UK group says Filmcast Extrusions is a non-core activity

The UK group says Filmcast Extrusions is a non-core activity

The future ownership of UK plastics firm Filmcast Extrusions is under review by parent company API Group. The company sold flexible film manufacturer Learoyd Packaging and injection moulder Morris Plastics earlier this year for a combined Ј2.5m (E3.7m) in an ongoing review of its converted products division.

API chief executive David Walton told PRW.com the company was looking to sell other companies in the loss-making division. “Five years ago we attempted to diversify and it’s not gone very well. We are in the middle of reversing that process. We have made no secret over the last year or two that we regard the Converted Products division as a non-core activity.”

Nelson-based Filmcast employs 70 people and recorded sales last year of Ј5m (E7.5m). The company manufactures mono and co-extruded PP packaging for markets such as food, medical, textile and magazines.

Walton said he did not expect an immediate sale of the business. “We are not forced sellers and we are looking at the companies in that group on a month to month basis. Is Filmcast offered for sale at the moment? No, it isn’t.”