Wednesday, October 10, 2012


More on the sell-offs to finance Tencel.  The sums now add up to £104 million:  similar to the cost of the Grimsby SL3 plant?

Amtico, the vinyl flooring manufacturer, was sold by Courtaulds for £49m in accordance with the company's strategy of focusing on its coatings and fibres businesses. Courtaulds will continue to hold a 10% share of Amtico, from which it may receive an additional £3.8m if performance objectives are achieved. The revenue from the sale will reduce Courtaulds' debt (£376m in September 1995) in order to finance future development of Tencel lyocell fibre. A further £40m income is expected from a joint venture with Hoechst involving oriented polypropylene film.

Anon., Text. Mon., Feb. 1996, p. 3

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