Innovia is not in the movie industry, but instead is responsible for the cellulose labels, film and wrapping used on many sweets, cigarettes, toiletries and beverages. The company has developed a range of films that are biodegradable, compostable or used to insulate bottles and other products. Innovia was founded in 2004 when chairman Dennis Matthewman led the £215m acquisition of the films business backed by Candover. Sales in 2007 reached £249m.
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