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Manufacturing Industry
Avecia Announces Sale of Novacote Business to COIM.(Brief Article)
Adhesives & Sealants Industry, October, 2001
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WILMINGTON, Mass. -- Avecia announced that it has received agreement to sell Novacote, its specialty laminating adhesives and coatings business, to COIM S.P.A., a private, family-owned Italian company.
With 2000 sales of 37.8 million euros ($33.5 million USD), Novacote is a profitable riche business focused on the development and manufacture of specialty laminating adhesives and coatings for the flexible packaging industry. Novacote employs approximately 100 people. It is expected that all employees will transfer with the business to COIM upon completion of the sale.
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