Rexam, the global consumer packaging company, has completed the disposal, announced in April 2002, of its Image Products business to Sun Capital, a leading US private investment firm.
The consideration is £42 million €62.6m), of which £17 million (€25.3m) is in loan notes. Image Products is a global player in the market for speciality coated films and papers for the electronics and digital imaging markets. It has four plants in the US and two in the UK. In 2001 the business had sales of £154 million (€240m) and had net operating assets of £35 million.
The company also recently divested a number of its business operations in the UK and manufacturing operations in continental Europe in an effort to streamline its operations and maintain profitability.
Rexam is the world's largest beverage can maker, as well as a market leader in consumer packaging with a focus on supplying packaging solutions to the four main market segments of beverage, beauty, healthcare and food packaging.