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?
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