Fruit, sweets, chocolate, cheeses, beers and cigarettes all come labelled or wrapped in packaging by Innovia Films. The Cumbria company’s specialist materials can be heat-sealed, shrink-wrapped, printed, coated with gloss or made permeable to air. Its joint venture with the Reserve Bank of Australia provides the substrate for polymer banknotes in more than 20 countries. Innovia Films was founded in 2004 following the £215m acquisition of the films business of UCB Group by chairman Dennis Matthewman and private-equity group Candover. Today it produces 120,000 tonnes of film, including biodegradable and compostable varieties. Innovia Films posted sales of £257.6m in 2006 under chief executive David Beeby.
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